Deutsche Bank downgraded JetBlue (JBLU) to Hold from Buy with a price target of $7, down from $9. The firm says the company is exposed to an emerging economic “soft patch” which will weigh on demand for air travel, particularly the domestic discretionary segment. Further, JetBlue still faces uncertainty on a return to profitability given that it is expecting a mid-to-high teens number of aircraft on the ground this year due to the GTF engine issues, the analyst tells investors in a research note.
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