Imperial Capital analyst Michael Derchin raised the price target on JetBlue Airways (NASDAQ: JBLU) to $24.00 (from $23.00) while maintaining a Outperform rating following the company's 1Q. In its earnings conference call, management expressed optimism regarding the revenue environment, with strong April peak bookings and transcontinental fares normalizing from 1Q19 lows.

BLU provided 2Q19 guidance as well as an update on its structural costs program. JBLU indicated 2Q19 unit revenues are expected to increase 1-4%, with 225bp of the increase due to calendar placement.