NEW YORK (TheStreet) -- Shares of Southwest Airlines (LUV) - Get Report were rising in mid-afternoon trading on Thursday as the airline company increases fares across its domestic system by $5, CNBC reports.
JPMorgan upgraded shares of the Dallas-based company to "overweight" from "neutral" today with a $51.50 price target, the Fly notes.
The firm cited the fare hike and a recent decline in stock price as reason for the upgrade.
Additionally, the company reported mixed 2016 third quarter results yesterday, with revenue falling short of analysts' forecasts and earnings beating Wall Street estimates.
More than 15.07 million shares have traded hands so far today vs. the 30-day average of 8.16 million.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of A-.
The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.
You can view the full analysis from the report here: LUV