JetBlue Airways Corp. Upgraded to “Overweight” at JPMorgan Chase & Co. (JBLU)

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JPMorgan Chase & Co. upgraded shares of JetBlue Airways Corp. (NASDAQ:JBLU) from a neutral rating to an overweight rating in a research report released on Thursday morning, TheFlyOnTheWall.com reports. JPMorgan Chase & Co. currently has $10.00 price objective on the stock, up from their previous price objective of $9.50. The analysts noted that the move was a valuation call.

JPMorgan Chase & Co. has also taken action a number of other industrials stocks recently. The firm reiterated its neutral rating on shares of United Continental Holdings Inc. They have a $43.50 price target on that stock. Also, JPMorgan Chase & Co. reiterated its underweight rating on shares of Southwest Airlines Co. They have a $21.00 price target on that stock. Finally, JPMorgan Chase & Co. reiterated its overweight rating on shares of Alaska Air Group, Inc.. They have a $111.00 price target on that stock.

Shares of JetBlue Airways Corp. (NASDAQ:JBLU) traded up 0.49% during mid-day trading on Thursday, hitting $8.16. 914,620 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 $9.45. The stock’s 50-day moving average is $8.55 and its 200-day moving average is $8.47. The company has a market cap of $2.412 billion and a price-to-earnings ratio of 16.81. JetBlue Airways Corp. also saw a large increase in short interest in April. As of April 15th, there was short interest totalling 49,855,277 shares, an increase of 3.5% from the March 31st total of 48,179,393 shares. Based on an average trading volume of 6,549,686 shares, the days-to-cover ratio is currently 7.6 days. Currently, 20.1% of the company’s stock are short sold.

JetBlue Airways Corp. (NASDAQ:JBLU) last announced its earnings results on Thursday, April 24th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict that JetBlue Airways Corp. will post $0.68 earnings per share for the current fiscal year.

A number of other firms have also recently commented on JBLU. 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. Separately, 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. Finally, analysts at Zacks reiterated an outperform rating on shares of JetBlue Airways Corp. in a research note on Thursday, March 13th. They now have a $10.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus 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.

To view JPMorgan Chase & Co.’s full report, visit JPMorgan Chase & Co.’s official website.

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