UPDATE: Goldman Sachs Initiates JetBlue Airways Corporation with Neutral, $5.20 PT on Fair Valuation

Goldman Sachs initiated its coverage on JetBlue Airways Corporation

with a Neutral rating and a price target of $5.20. Goldman Sachs commented, "JBLU stock has been range bound for the past three years, and is likely to hover around current levels as the valuation seems fair relative to its LCC peers, such as Ryan Air (Neutral) and Easy Jet (Neutral), and seems to reflect the company's earnings growth prospects for 2012E. Thus, we initiate with a Neutral rating for the stock." JetBlue Airways Corporation closed at $5.73 on Wednesday.