Alaska Air rises after UBS lifts rating on profit growth potential

** Alaska Air Group's shares ALK.N rise 1.8% to $65.02 in early trading hours

** UBS upgrades rating to "buy" from "neutral"

** Cites confidence in ALK's long-term earnings power after analysing reasons driving co's premium seat expansion, loyalty growth and global expansion

** Lifts PT to $90 from $56, representing ~41% upside to the stock's last close

** "We also think the near-term is de-risked as corporate demand has accelerated recently and competitive pressures are easing in SFO and other ALK's markets"

** 2 of 16 brokerages rate the stock "strong buy", 13 "buy" and 1 "hold"; their median PT is $68 - LSEG-compiled data

** Including session gains, stock has risen 0.1% YTD