JetBlue initiated with a Market Perform at BMO Capital

BMO Capital analyst Michael Goldie initiated coverage of JetBlue (JBLU) with a Market Perform rating and $4.50 price target The firm is “encouraged” by the company’s strategic framework and sees potential for “significant upside potential.” However, JetBlue’s elevated leverage along with fuel price volatility will challenge the stock in the immediate term, the analyst tells investors in a research note. BMO believes lower fuel prices would be a “significant catalyst that would likely support greater-than-peer share price performance.”