UBS Maintains a 'Buy' on JetBlue Airways (JBLU); Cutting Estimates as Revenues Disappoint
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Price: $6.21 -2.97%
Rating Summary:
5 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
5 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade JBLU Now!
UBS maintains a 'Buy' on JetBlue Airways (NASDAQ: JBLU) price target of $7.00 (from $8.00).
Analyst, Kevin Crissey, said, "Our May upgrade of JBLU was predicated on four things: 1. JBLU’s significant domestic exposure, 2. JBLU benefiting from either AMR standalone plan or a US Airways merger with AMR, 3. consensus EPS est being too low, and 4. attractive valuation. With fuel prices rallying and demand softening, the last two reasons are weakened. However, the first two points hold and therefore we continue to rate JBLU Buy. We’d be further encouraged if mgmt were to reassess the relatively rapid growth plan in light of slower demand and insufficient financial returns."
FY12 EPS estimate lowered from $0.57 to $0.49 and FY13 from $0.79 to $0.77.
For an analyst ratings summary and ratings history on JetBlue Airways click here. For more ratings news on JetBlue Airways click here.
Shares of JetBlue Airways closed at $5.26 yesterday, with a 52 week range of $3.40-$6.32.
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Analyst, Kevin Crissey, said, "Our May upgrade of JBLU was predicated on four things: 1. JBLU’s significant domestic exposure, 2. JBLU benefiting from either AMR standalone plan or a US Airways merger with AMR, 3. consensus EPS est being too low, and 4. attractive valuation. With fuel prices rallying and demand softening, the last two reasons are weakened. However, the first two points hold and therefore we continue to rate JBLU Buy. We’d be further encouraged if mgmt were to reassess the relatively rapid growth plan in light of slower demand and insufficient financial returns."
FY12 EPS estimate lowered from $0.57 to $0.49 and FY13 from $0.79 to $0.77.
For an analyst ratings summary and ratings history on JetBlue Airways click here. For more ratings news on JetBlue Airways click here.
Shares of JetBlue Airways closed at $5.26 yesterday, with a 52 week range of $3.40-$6.32.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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