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According to a research report published this morning, Sterne Agee has downgraded JetBlue Airways
JBLU from Buy to Neutral, and lowered PT from $10 to $8.
In the report, Sterne Agee said, "JetBlue reported a very strong April traffic level of 14.5% higher RPMs and 9% higher Passenger RASM - both very strong #s. However, this marks the anniversarying of last year's strong RASM increases, leading to much slower yield growth in upcoming months. With Jet fuel prices declining as of late, we are revisiting our estimates and rating relative to other airlines."
JetBlue Airways closed Friday at $4.80.
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