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Airline Sector Climbing Higher

NEW YORK ( TheStreet) -- The airline sector has made heavy advances in afternoon trading, on the heels of Morgan Stanley (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 months versus 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 AMR (AMR) and UAL (UAUA) to overweight from equalweight and lowered his ratings on Alaska Air (ALK - Get Report) to underweight from equalweight.

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SYM TRADE IT LAST %CHG
LCC $0.00 0.00%
ALK $65.30 0.00%
CEA $39.06 0.00%
DAL $45.66 0.00%
JPM $63.61 0.00%

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