Cowen and Company Upgrades JetBlue Airways to Outperform (JBLU)
JetBlue Airways (NASDAQ:JBLU) was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $15.00 price target on the stock, up from their previous price target of $10.00. Cowen and Company’s price target would indicate a potential upside of 21.65% from the company’s current price.
Shares of JetBlue Airways (NASDAQ:JBLU) opened at 12.33 on Wednesday. JetBlue Airways has a 52 week low of $6.04 and a 52 week high of $12.42. The stock’s 50-day moving average is $11.10 and its 200-day moving average is $9.55. The company has a market cap of $3.599 billion and a price-to-earnings ratio of 11.72. JetBlue Airways also was the recipient of some unusual options trading on Monday. Stock investors purchased 9,133 call options on the company. This represents an increase of approximately 314% compared to the average daily volume of 2,204 call options.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts predict that JetBlue Airways will post $0.69 earnings per share for the current fiscal year.
A number of other firms have also recently commented on JBLU. Analysts at Imperial Capital raised their price target on shares of JetBlue Airways from $10.00 to $20.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Separately, analysts at Argus raised their price target on shares of JetBlue Airways from $10.00 to $14.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of JetBlue Airways from $10.00 to $13.50 in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $13.61.
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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