Deutsche Bank reiterates its Buy rating on JetBlue JBLU and raises its price target to $8 from $7 on results that beat forecasts for the December quarter.
Deutsche Bank says, "JetBlue reported Dec Q diluted EPS of $0.08 which beat both our forecast of $0.04 and consensus of $0.03 (and vs. EPS of $0.03 a year ago). JetBlue produced a Dec Q operating margin of 7.3%, a 1.3 point improvement from last year, despite a 44% increase in fuel expense. As management indicated that positive trends are continuing into 2012 (Jan PRASM +8%-9%), we are raising our 2012 EPS
estimate (2013 EPS up as well on better industry fundamentals)."
JBLU closed at $5.80 a share on Thursday.
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