Citi initiated coverage of JetBlue (JBLU) with a Sell rating and $4.10 price target The firm believes the setup is positive for the airlines with an “elongated mid-cycle” beginning in 2026. Citi sees the largest beneficiaries as being the “supermajors.” The large airlines offer the most favorable risk/reward, the analyst tells investors in a research note. On the other side, Citi believes the legacy low-cost carriers will be underperformers through the cycle. The firm is not willing to give JetBlue credit for its turnaround plan pending its impact on the company’s results.
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