JetBlue price target lowered to $5.50 from $5.60 at Citi

Citi analyst Stephen Trent lowered the firm’s price target on JetBlue (JBLU) to $5.50 from $5.60 and keeps a Neutral rating on the shares. The analyst says that although the chances of a JetBlue/Spirit (SAVE) merger look remote, so too do the prospects of JetBlue returning to sustainable earnings and cash flow generation over the medium-term. However, relative to Spirit, JetBlue’s balance sheet is in better shape and its operational profile is not nearly as stressed, the analyst tells investors in a research note.