NEW YORK ( TheStreet) -- Southwest Airlines ( LUV) was the best-performing stock in the S&P 500 Wednesday morning. The S&P was down 15.75 points, or 1.11%, to 1,397.63.
Shares of Southwest Airlines rose 1.71% to $8.34. The stock was upgraded to overweight by Barclays analysts and its price target was increased to $13 from $11. Southwest Airlines has an estimated price-to-earnings ratio for next year of 8.62 times; the average for airline companies is 6.82. For comparison, both Delta Air Lines ( DAL) and United Continental Holdings ( UAL) have lower forward P/Es of 4.05 and 3.88, respectively. Ten of the 18 analysts who cover Southwest Airlines rated it hold. Seven analysts gave the stock a buy rating and one rated it sell. TheStreet Ratings gives Southwest Airlines a B grade with a buy rating and a $9.70 price target. The stock has fallen 2.45% year to date. -- Written by Alexandra Zendrian >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: email@example.com. >To follow the writer on Twitter, go to Alexandra Zendrian.