Southwest Airlines Gets a Lift on Higher Passenger Traffic

Shares of Southwest Airlines (LUV) got a lift after the company announced a rise in passenger traffic in November, making it TheStreet's Move of the Day. Southwest said a key revenue figure rose last month due to higher traffic than in the same month last year. The November passenger revenue per available seat mile, or PRASM, rose 4% to 5% from November of 2013. The company added that passenger traffic was up 6%, while capacity rose 4% during the period. The airline also projected that the revenue figure will rise by 1% to 2% for the full fourth quarter. Southwest stock was also helped by an upgrade to a BUY rating from NEUTRAL by analysts at Goldman Sachs this morning. The firm also increased its six month price target to $55 per share from $44, saying the airline is likely to outperform its peers.