Raymond James upgraded JetBlue (JBLU) to Outperform from Market Perform with a $5 price target The firm cites the recent selloff for the upgrade as it sees low bankruptcy risk and an “M&A floor” for the shares. The analyst is not aware of any takeover discussions, but believe JetBlue’s assets “make it an attractive target.” As such, the stock is “compelling for those looking to be nimble,” the analyst tells investors in a research note. Raymond James sees the stock as likely range-bound between a $3.50 per share hypothetical takeout value floor and a $6.00 ceiling.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JBLU:
- JetBlue price target lowered to $4.25 from $5.25 at BofA
- Some flights to resume at Heathrow Airport after fire, AP reports
- Power outage closes Heathrow Airport, NY Times reports
- Southwest Airlines (LUV) in Settlement Talks with DOJ Over Flight Delay Lawsuit
- FAA: JetBlue flight returned safely to Boston airport after mechanical issues