UPDATE: JPMorgan Upgrades JetBlue Airways (JBLU) to Overweight

April 14, 2021 4:00 AM EDT
Get Alerts JBLU Hot Sheet
Price: $19.33 +0.05%

Rating Summary:
    13 Buy, 11 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 28 | Down: 11 | New: 10
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(Updated - April 14, 2021 4:33 AM EDT)

JPMorgan analyst Jamie Baker upgraded JetBlue Airways (NASDAQ: JBLU) from Underweight to Overweight with a price target of $25.00 (from $15.00).

The analyst comments "Prior to COVID-19, JetBlue disclosed an ambitious set of goals at its 2018 investor day, namely that the company is targeting $2.50-3.00 of EPS by 2020, close to an 80% increase at the midpoint from 2018 EPS. While we are no longer modeling for such an outcome, we continue to believe that the company’s cost control will continue to be in focus following the impact of COVID-19. Our Overweight rating reflects a positive risk/reward profile relative to current valuations. Given significant forecasted losses this year and diminished profit expectations for next, we believe EV/EBITDAR will return as a valuation tool for investors. When taken in conjunction with our revised debt-raising expectations, not all airline balance sheets are expected to exit the current downturn looking alike."

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 $20.77 yesterday.


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