UPDATE: Susquehanna Upgrades JetBlue Airways (JBLU) to Positive Ahead of Q1 Earnings
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Susquehanna analyst Christopher Stathoulopoulos upgraded JetBlue Airways (NASDAQ: JBLU) from Neutral to Positive with a price target of $26.00 (from $15.00).
The analyst comments "JBLU is the sixth-largest U.S. carrier, with ~6% of U.S. domestic ASMs. Pre-pandemic, JBLU was in the middle innings of a comprehensive revenue and cost initiative (Building Blocks), which was gaining momentum. JBLU struggled with unit costs in years prior (SLA CASM-ex. fuel & transport costs average of $0.079 over 2014-19, or +11% vs. LUV), contributing to its “identify crisis” as a low-cost carrier. With 21% of ASMs originating in New York, ~$150-200M of fixed cost savings coming out of 2020, and its new partnership with AAL (the Northeast Alliance), we see JBLU as well positioned into the recovery."
Shares of JetBlue Airways closed at $20.50 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesSusquehanna International Group of Companies, Earnings
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