NEW YORK ( TheStreet ) -- Alaska Air ( ALK ) was upgraded to "outperform" from "neutral" at Credit Suisse on Thursday morning. The firm said it upped its rating on the airliner as it believes Alaska Air is in a good position and able to continue buying back stock. Credit Suisse set a $78 price target on Alaska Air stock. "We are less worried about ALK's issues in SEA with the rate of competitive capacity adds declining, and more worried about industry-wide fare compression," Credit Suisse said in a note. "We expect ALK to buy back up to 8% of its market cap in 2015, second only to Delta Air Lines ( DAL ), and we see the least downside to ALK consensus," the firm added. Shares of Alaska Air are higher by 2.31% to $63.46 at the start of trading on Thursday. Separately, TheStreet Ratings team rates ALASKA AIR GROUP INC as a Buy with a ratings score of A+.