Analyst Stephen Trent from Citi maintained a Hold rating on JetBlue Airways (JBLU – Research Report) and decreased the price target to $7.15 from $7.90.
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Stephen Trent has given his Hold rating due to a combination of factors that he sees influencing JetBlue Airways’ performance. One significant consideration is JetBlue’s strategic approach to partnerships and alliances. While the company is open to forming new agreements with network carriers to enhance its global reach, management has clarified that they do not see themselves as a target for acquisition.
Additionally, growth prospects for JetBlue are mixed, with limitations in key markets such as New York and Boston due to air traffic control issues. However, the airline remains optimistic about potential growth opportunities in other regions. Furthermore, JetBlue is focusing on passenger segmentation strategies to maximize revenue, maintaining the importance of their basic economy product while also exploring other market segments. These factors collectively contribute to the Hold rating, reflecting a cautious yet hopeful outlook for the airline’s future.
In another report released on February 4, Susquehanna also maintained a Hold rating on the stock with a $6.00 price target.
JBLU’s price has also changed dramatically for the past six months – from $4.800 to $7.330, which is a 52.71% increase.