JetBlue price target lowered to $3 from $3.50 at BofA

BofA analyst Andrew Didora lowered the firm’s price target on JetBlue (JBLU) to $3 from $3.50 and keeps an Underperform rating on the shares. While noting that JetBlue was “the one airline” that hit its initial Q1 unit revenue and unit cost guidance, the firm lowered its earnings forecasts given weaker revenue forecasts and notes that JetBlue’s unit cost vs unit revenue growth gap is at historically wide levels.