Analyst Ratings for Southwest (LUV)

Overall Rating: BUY Rating Trend:

Avg. $ Target: $12.38 (-12.6%)

Date	Firm	Type	Rating (Past)	PT (Past)	Start $	End $	% Chg.	Details
5/17/2013	Avondale Partners	Upgrade	Market Outperform (Market Perform)	N/A (N/A)	14.14	14.16	0.14%	Details
3/8/2013	UBS	Upgrade	Buy (Neutral)	N/A (N/A)	12.09	14.16	17.12%	Details
1/8/2013	Deutsche Bank » Updated 4/8/2013	Upgrade	Buy (Hold)	17.00 (15.00)	10.91	14.16	29.79%	Details
12/14/2012	Standpoint Research	Downgrade	Hold (Buy)	N/A (N/A)	10.14	14.16	39.64%	Details
12/10/2012	Buckingham Research	New Coverage	Buy (N/A)	13.00 (N/A)	9.81	14.16	44.34%	Details
8/14/2012	BofA/Merrill Lynch	Downgrade	Underperform (Neutral)	N/A (N/A)	9.12	14.16	55.26%	Details
7/12/2012	Goldman Sachs	New Coverage	Neutral (N/A)	8.50 (N/A)	9.56	14.16	48.12%	Details
7/10/2012	Sterne Agee	Upgrade	Buy (Neutral)	15.00 (N/A)	9.24	14.16	53.25%	Details
6/21/2012	Imperial Capital » Updated 12/20/2012	New Coverage	In-Line (N/A)	10.50 (9.00)	9.31	14.16	52.09%	Details
4/4/2012	Barclays » Updated 6/8/2012	Upgrade	Overweight (N/A)	14.00 (13.00)	8.20	14.16	72.68%	Details
1/20/2012	Raymond James	Upgrade	Outperform (N/A)	N/A (N/A)	9.30	14.16	52.26%	Details
11/14/2011	Maxim Group	New Coverage	Hold (N/A)	9.00 (N/A)	8.21	14.16	72.47%	Details
5/9/2011	Dahlman Rose » Updated 12/17/2012	Upgrade	Buy (N/A)	12.00 (11.00)	12.11	14.16	16.93%	Details
4/15/2011	Evercore Partners	New Coverage	Overweight (N/A)	N/A (N/A)	11.60	14.16	22.07%	Details
3/11/2011	CRT Capital	Upgrade	Buy (N/A)	N/A (N/A)	12.50	14.16	13.28%	Details

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