JetBlue (JBLU) received a stock boost after analysts at Argus — in a research report to clients — upgraded the stock to “buy” from its previous “hold” rating.
JBLU stock is up 2.5% in early morning trading.
JetBlue currently has an average rating of “hold” though other analysts have been upgrading or reiterating the company’s position.
Argus noted that the company is finding ways to boost revenue and add new routes.
Goldman Sachs analysts upgraded JBLU shares from “sell” to “neutral” early this month, with a $10.50 price target that’s up from $8.20. Analysts at Zacks, meanwhile, reiterated its “outperform” rating on JBLU last month with a $10 price target.
Currently, three investment analysts have rated the stock “sell,” six have given it a “hold” rating, and five note a “buy.”
The Street is also giving JetBlue a “buy” rating, with this to say about it:
“We rate JETBLUE AIRWAYS CORP (JBLU) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company’s strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, good cash flow from operations, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
JBLU stock is up 21% from this time last year, though still down .5% year to date.
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