JetBlue downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded JetBlue (JBLU) to Market Perform from Outperform without a price target The firm sees a more balanced risk/reward, with the shares having reached its prior $5.00 target price following an April “tactical upgrade.” Following the meaningful improvement in sentiment, JetBlue shares offer a balanced risk/reward, the analyst tells investors in a research note. However, should there be a meaningful economic downturn, Raymond James still believes JetBlue “is a survivor” and the firm does not see liquidity risk.