Over the past 52 weeks, the airline industry climbed to new highs as fuel prices fell to a post-recession low. However, the industry rally might not be over yet. Last weekend Barron’s featured a call by Jack Hough, who speculated that the airline industry could start running again.

According to his research, Hough believes that airlines can stand to run another 50%. 24/7 Wall St. has taken this call into account and reviewed a few of the major airline companies that could stand to run the most.

Southwest Airlines Co. (NYSE: LUV) was perhaps one of the biggest winners over the past year, if not the biggest. Part of its success can be attributed to its low-cost model, not to mention its strong margins. The stock has a 52-week trading range of $25.86 to $47.17. It also has a consensus analyst price target of $47.61, which implies a premium of 37.3% from current prices. The highest call from analysts is $64, which implies upside of 84.6%. Shares were at $34.67 on Friday.

American Airlines Group Inc. (NASDAQ: AAL) stands to benefit from more favorable 2016 guidance in passenger revenue per available seat mile (PRASM) and cost per available seat mile (CASM) when compared to other majors. The stock has a consensus price target of $56.89, implying upside of 36.1% from current prices. This highest price target from analysts was $73. Shares were at $41.80 on Friday, in a 52-week trading range of $28.10 to $56.20.

Delta Air Lines Inc. (NYSE: DAL) is thought to be near its bottom, and that it can bounce from here. Much like American Airlines, Delta can benefit from a more positive outlook in terms of its PRASM trend. The consensus price target is $59.57, implying upside of 40.7%. The highest price target was $71, implying upside of 67.7%. Shares were at $42.33 on Friday, in a 52-week range of $30.12 to $51.06.

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