NEW YORK (TheStreet) -- Southwest Airlines (LUV) shares are up 2.3% to $42.08 in trading on Monday after the airline announced a rise in passenger traffic in November.
The company estimated that November passenger revenue per available seat mile (PRASM) rose 4%-5% over the same month last year. Passenger traffic and capacity rose 6% and 4% respectively during the period.
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The airline also projected PRASM during the fourth quarter would rise between 1% and 2% over the same time last year.
Separately, the airline was upgraded to "buy" from "neutral" by analysts at Goldman Sachs before the opening bell today.
TheStreet Ratings team rates SOUTHWEST AIRLINES as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOUTHWEST AIRLINES (LUV) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."