This company consistently makes money and continues to grow. After the acquisition of AirTran sales will be close to 15 BILLION $$$$$, and WS just yawns. Up one % down one % on a daily basis. LUV could be netting, according to projections, over ONE BILLION per year in profits in 2011 and 2012. WS yawns......
First thing to remember , is WS cares about stock volatility over how well a company is run. With 700+ million shares SWA moves much more slowly than many other companies. Second, and just as important IMO, is that the analyst comments are primarily designed to get that volatility moving--and they don't really care what direction, because they make their money off of the buying/selling. Think of the "house" rake in a poker game, with the dealer talking up the betting to the players.
WS sucks, they're in it for themselves, and you listen to them with a hefty dose of cynicism if you're smart, IMO.
The stock hit $15 per share on an adjusted basis in 1998....12 years later we're below that. With that history, no dividend and in a volatile industry what makes you think WS is going to reward based on that. Not to mention when LUV's hedging stratedgy blew up a few years back.