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JetBlue Heads Back Toward Earth
Low-fare airline JetBlue (JBLU Quote) has been soaring since its initial public offering last month, but Tuesday the company's underwriters weighed in with investment ratings that were less than enthusiastic.
One of the members of the IPO's underwriting group, UBS Warburg, started JetBlue with a reduce rating, saying the stock appears to be overvalued. On JetBlue's first day of trading, April 12, the stock jumped 67% from the $27 offering price to close at $45. ...
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