UPDATE: Deutsche Bank Downgrades JetBlue Airways to Hold on Earnings Growth Outlook

Deutsche Bank downgraded JetBlue Airways

from Buy to Hold and lowered the price target from $8.00 to $7.00. Deutsche Bank commented, "We are lowering our rating on JBLU from Buy to Hold as we are projecting only modest earnings growth in 2013 and believe the company will continue to lag its peer group on an ROIC basis. Of course, we would revisit our view in the event that JBLU stepped-up its efforts to reduce debt and return cash to shareholders." JetBlue Airways closed at $5.97 on Monday.