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Shares of JetBlue Airways Corp. (JBLU - Get Report) were higher Monday after a top analyst upgraded the airline's stock.

JetBlue's stock price rose 1.22% to $19.43 on Monday following Credit Suisse's upgrade of the airline's shares to neutral from underperform.

Credit Suisse cited "strong seasonal leisure demand" over the summer, which it argues will drive "solid unit revenue performance" at the airline.

The bank, in its upgrade of JetBlue, also cited "continued execution of cost & revenue initiatives" which it sees "ramping" up in the second quarter and on into 2020.

Anticipating stronger demand, JetBlue recently upgraded its projections for a key metric, revenue available per seat mile, or RASM. The airline now sees 2% to 4% growth in RASM in the second quarter, up from 1% to 2% previously.

Also helping boost JetBlue are "muted investor expectations" when it comes to the airline's earnings per share targets for 2020, according to Credit Suisse.

Like other airlines, JetBlue also has gotten a boost from crude oil prices, which have remained at relatively low levels. Fuel accounts for the majority of airline costs.

"In recent years we have repeatedly demonstrated our ability to adapt to the changing environment around us to achieve our margin commitments - and 2019 is proving to be no different," said Robin Hayes, JetBlue's CEO, in a press statement when the airline released its first-quarter earnings in the spring.