Southwest Raised at Credit Suisse After Muted Share Gains
- Analyst upgrades Southwest, cuts Spirit and United Airlines
- Stock poised for ‘aggressive comeback’ after slower rebound
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The sharp rally in U.S. airline stocks from mid-March lows pushed one analyst to upgrade the worst-performing member of the bunch: Southwest Airlines Co.
Credit Suisse boosted Southwest to a buy-equivalent rating from hold on the premise that it’s among the best-positioned to stage what analyst Jose Caiado De Sousa characterized as an “aggressive comeback.” Meanwhile, ratings were cut for Spirit Airlines Inc. and United Airlines Holdings Inc., which have both outperformed the sector and Southwest recently.