This morning, Deutsche Bank initiated coverage of both Southwest Airlines (NYSE:LUV) and Delta Airlines (NYSE:DAL) with buy ratings as the firm is growing more bullish on the airline sector. The firm believes Southwest has a strong balance sheet that should generate strong earnings this year and that Delta has handled the merger with Northwest well and is on a good path now. With the buy ratings, Deutsche Bank set a price target of $15 per share on Southwest Airlines and $17 per share on Delta.
Shares of Delta were up nearly 4% following the new coverage, while shares of Southwest up more than 2.5% this morning.
Soleil Securities upgraded shares of MGM Mirage (NYSE:MGM) from sell to hold as the company has taken strides to improve its balance sheet. With debt issues being pushed to the back burner and the Las Vegas economy improving, the firm has set a price target of $13 per share.
In morning trading, shares of MGM were higher by about 3.6% following the upgrade.
And Goldman Sachs raised its price target on shares of Clean Harbors (NYSE:CLH) to $72 per share as the company has generated strong earnings following the BP spill in the Gulf of Mexico. The firm maintains its neutral rating, but has upped its EPS estimates for the year.
Shares of Clean Harbors were trading modestly higher, gainin about 1% so far.
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