Soleil Securities Upgrades JetBlue Airways (JBLU) to Buy; Brighter Outlook

Soleil Securities upgraded JetBlue Airways (NASDAQ: JBLU) from Hold to Buy. PT increased from $7 to $9.

Soleil analyst says, "Increasing conviction that revenues will more than offset higher fuel prices is leading us to raise our earnings estimates, target price to $9, and rating on JetBlue to Buy. Our 2011 EPS estimate goes to $0.42 from $0.32, with the Zacks mean at $0.38. For 2012, our forecast rises to $0.65 from $0.57, with consensus at $0.55...We expect daily oil price movements to affect all airline stocks, but we also believe their revenues will generate stronger than expected earnings that will lead the shares higher."

For more ratings news on JetBlue Airways click here and for the rating history of JetBlue Airways click here.

Shares of JetBlue Airways closed at $6.03 yesterday.

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