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Southwest Airlines (LUV) Stock Upgraded at Barclays

NEW YORK (TheStreet) -- Shares of Southwest Airlines Co. (LUV - Get Report) closed up 0.71% to $47.04 on Friday after the airline carrier's stock rating was raised to "equal weight" from "underweight" at Barclays. The firm also increased its price target to $48 from $41 on the Dallas-based company.

"[W]e see less downside in LUV in a recession scenario than with large network peers who focus on more cyclical high-end business travel (which tends to simply come to a sketching halt about six months after a recession starts)," Barclays analysts said in note released before today's market open.

Southwest Airlines' revenue per available seat mile has been better...