BRIEF-RESEARCH ALERT-UBS upgrades AMR, Continental Airlines, 3 others to buy

Sept 25 (Reuters) - US Airline Sector:

* UBS raises Alaska Air AMR Continental Airlines to buy

from neutral

* UBS raises US Airways Group Inc UAL Corp to buy from neutral

* UBS raises AirTran price target to $9 from $7.75; rating buy

* UBS raises Allegiant price target to $55 from $50; rating buy

* UBS raises Delta Air Lines Inc price target to $13 from $10; rating

buy

* UBS raises Southwest Airlines Co price target to $10.50 from $9.50;

rating neutral

* UBS raises UAL Corp price target to $15 from $6.50

* UBS raises US Airways price target to $8 from $3.25

* UBS raises JetBlue price target to $7 from $5.50; rating neutral

* UBS raises Continental Airlines Inc price target to $25 from $13

* UBS raises AMR Corp price target to $11 from $5.50

* UBS raises Alaska Air price target to $40 from $24

* UBS says balance sheets of several US Airlines will be flush with new cash

thanks to the recent flurry of capital raises

* UBS says only cash raised in excess of broker's expectation is incrementally

beneficial in reducing bankruptcy risk

* UBS names UAL Corp top pick as co has the best leverage to an

economic and corporate travel recovery

* UBS says UAL Corp is very likely to issue equity soon and broker

adds it would be a buyer

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