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JetBlue Airways Corp. (NASDAQ:JBLU) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Friday. They currently have a $10.00 target price on the stock. Zacks‘s price objective points to a potential upside of 4.71% from the stock’s previous close.

Zacks’ analyst wrote, “We downgrade our recommendation on JetBlue Airways from Outperform to Neutral owing to its weak first-quarter 2014 results. Both the top and the bottom line missed the Zacks Consensus Estimate. Increased price competition from rivals, rising pilot compensation and rise in other operating expenses remain major concerns for JetBlue. However, network expansion, cost control and increased focus on differentiated product offerings is expected to drive the company’s performance. We believe the recent slot wins in Reagan Airport in addition to JetBlue’s emphasis on expansion in major growth regions like Boston, Fort Lauderdale, the Caribbean and Latin America, will support future growth. Moreover, elimination of certain long haul flights, fleet re-designing, cost-saving moves and lucrative strategic partnerships are expected to create tailwinds for JetBlue going ahead.”

Shares of JetBlue Airways Corp. (NASDAQ:JBLU) traded up 0.21% during mid-day trading on Friday, hitting $9.57. 6,012,210 shares of the company’s stock traded hands. JetBlue Airways Corp. has a 1-year low of $5.95 and a 1-year high of $9.68. The stock’s 50-day moving average is $8.56 and its 200-day moving average is $8.67. The company has a market cap of $2.840 billion and a price-to-earnings ratio of 19.73. JetBlue Airways Corp. also was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 44,070,749 shares, a decrease of 6.7% from the April 30th total of 47,233,982 shares. Based on an average trading volume of 7,819,518 shares, the short-interest ratio is currently 5.6 days. Currently, 17.8% of the shares of the company are short sold.

JetBlue Airways Corp. (NASDAQ:JBLU) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.08. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that JetBlue Airways Corp. will post $0.68 EPS for the current fiscal year.

A number of other firms have also recently commented on JBLU. Analysts at JPMorgan Chase & Co. upgraded shares of JetBlue Airways Corp. from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 1st. They now have a $10.00 price target on the stock, up previously from $9.50. They noted that the move was a valuation call. Separately, analysts at Argus upgraded shares of JetBlue Airways Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, April 16th. They now have a $10.00 price target on the stock, up previously from $8.80. Finally, analysts at Goldman Sachs upgraded shares of JetBlue Airways Corp. from a “sell” rating to a “neutral” rating in a research note on Monday, April 7th. They now have a $10.50 price target on the stock, up previously from $8.20. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $9.94.

JetBlue Airways Corporation (NASDAQ:JBLU) is a passenger airline that operates primarily on point-to-point routes with its fleet of 120 Airbus A320 aircraft and 49 EMBRAER 190 aircraft.

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