JetBlue Airways Corp. Shares Gap Up After Analyst Upgrade (JBLU)
JetBlue Airways Corp. (NASDAQ:JBLU)’s share price gapped up before the market opened on Wednesday after Cowen and Company raised their price target on the stock from $8.00 to $10.00, American Banking News.com reports. The stock had previously closed at $10.39, but opened at $10.49. Cowen and Company currently has a market perform rating on the stock. JetBlue Airways Corp. shares last traded at $10.69, with a volume of 5,670,746 shares changing hands.
A number of other analysts have also recently weighed in on JBLU. Analysts at Wolfe Research upgraded shares of JetBlue Airways Corp. from an “underperform” rating to an “outperform” rating in a research note on Friday, June 13th. Separately, analysts at Zacks downgraded shares of JetBlue Airways Corp. from an “outperform” rating to a “neutral” rating in a research note on Friday, May 30th. They now have a $10.00 price target on the stock. Finally, 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. JetBlue Airways Corp. currently has an average rating of “Hold” and a consensus price target of $10.28.
The stock’s 50-day moving average is $10.15 and its 200-day moving average is $9.04. The company has a market cap of $3.189 billion and a price-to-earnings ratio of 21.67.
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.
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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