As previously reported, BofA analyst Andrew Didora downgraded JetBlue (JBLU) to Underperform from Neutral with an unchanged price target of $6.50. Given less exposure to corporate, premium, and international routes, the firm downgraded both Southwest (LUV) and JetBlue, arguing that both airlines trade at the high end of historical valuation ranges despite less exposure to “the strongest industry trends.” Both also are exposed to execution risk as Southwest expands its product offering and JetBlue continues to fine tune its network, the analyst added.
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