NEW YORK (
TheStreet) -- The airline sector has made heavy advances in afternoon trading, on the heels of
(MS ) touting the sector's attractiveness.
The Amex Airline index has gone up by 3.5% to $29.50.
"Now that ... previously exuberant expectations have normalized as evidenced by price action in the last
one to two
improving trends and ... the risk of a liquidity squeeze at a major carrier in 2010 has fallen; we believe investors will become increasingly willing to bet on the cycle," wrote Morgan Stanley analyst William J. Greene in a note to investors cited by the
Wall Street Journal.
Greene has boosted his outlook for the sector to attractive from in-line.
On top of that, he also lifted his ratings on
to overweight from equalweight and lowered his ratings on
(ALK - Get Report)
to underweight from equalweight.