Seaport Research analyst Daniel McKenzie raised the firm’s price target on JetBlue to $9 from $7 and keeps a Buy rating on the shares. Demand and pricing remain solid, which sets up JetBlue for RASM acceleration in the second half of 2024 earnings upside, the analyst tells investors in a research note. The firm sees 2024 as a transition year to a better 2025 for the company. Supply chain disruptions mostly likely won’t be fixed until 2025 and the Spirit Airlines (SAVE) merger will be an overhang until fully in the rearview mirror, says Seaport. “But for those with a longer investment horizon, there’s still fuel left in the tank,” the firm says.
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