JPMorgan analyst Jamie Baker upgraded Alaska Air Group to Overweight from Neutral and raised his price target for the shares to $72 from $71. The stock closed yesterday down 8c to $60.54. Shares of Alaska Air are a laggard year-to-date, having underperformed the market by nearly 17%, Baker tells investors in a research note. However, competitor capacity in Seattle overlap markets is expected to decline in Q2 for the first time in two years, while overlap capacity continues to decline in San Francisco, adds the analyst. He thinks Alaska Air's Q2 TRASM forecast may prove the most easily achievable in the U.S. airlines space.