7/104 sources · 3 publishersUpdated Oct 8, 22:10 UTC
Citi lifts JetBlue to Neutral as lower valuation reduces perceived downside
Citi upgraded JetBlue Airways to Neutral from Sell on October 6 after the airline's share decline improved its risk-reward profile. Citi set a $4.50 price target, while JetBlue shares rose in premarket trading following the rating action.
Why it matters
Citi's rationale was that the stock's decline had made downside risk more limited, shifting its assessment from bearish to neutral. The change removes a Sell rating but does not amount to a bullish recommendation.
Key facts
- 1Citi changed its JetBlue rating to Neutral from Sell. investing.com
- 2Citi assigned JetBlue a $4.50 price target. investing.com
- 3JetBlue shares rose 3.2% in premarket trading after the upgrade. investing.com
- 4JetBlue stock had fallen 38% from its recent high, according to the report. investing.com
Open questions
- Material 1 says Citi left its price target unchanged, while Materials 2 and 4 say the $4.50 target was reduced from $5.30.
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.