Citi analyst Stephen Trent maintained a Hold rating on JetBlue Airways (JBLU – Research Report) today and set a price target of $5.50.
Stephen Trent has given his Hold rating due to a combination of factors indicating both potential upsides and inherent risks associated with JetBlue Airways. The unexpected acquisition of a significant stake by investor Carl Icahn has generated a short-term buzz around the company’s stock, which could potentially influence the stock’s performance in the near term. However, the implications of Icahn’s attempt to gain influence at the board level remain uncertain, leaving the company’s strategic direction in a state of flux.
Furthermore, recent developments such as the blockage of JetBlue’s acquisition of Spirit Airlines and the challenges surrounding the Northeast Alliance with American Airlines contribute to the cautious outlook. These events underscore the critical strategic decisions that JetBlue faces, which have yet to yield clear outcomes. The Hold rating reflects a neutral stance with a high-risk warning, considering the expected share price return of -9.4%, indicating potential volatility and uncertainty in the company’s future performance.
In another report released on January 31, TD Cowen also maintained a Hold rating on the stock with a $5.00 price target.
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JetBlue Airways (JBLU) Company Description:
JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The company offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and most legroom. JetBlue Airways was founded by David Gary Neeleman in August, 1998 and is headquartered in Long Island City, NY.
Read More on JBLU:
- JetBlue Enhances Spirit Merger with Shareholder Prepayment
- JetBlue Airways Corp Is Worried About This – Should You Be Worried Too?
- JetBlue (NASDAQ:JBLU): Carl Icahn Takes Stake; Stock Jumps
- JetBlue (NASDAQ:JBLU) Continues C-Suite Shakeup
- Spirit Airlines working with advisers to address debt, WSJ reports
