NEW YORK (TheStreet) -- JetBlue Airways Corp. (JBLU) - Get JetBlue Airways Corporation Report stock is falling 3.27% to $24.53 in mid-morning trading on Wednesday, after it was downgraded to "neutral" from "outperform" at Credit Suisse.
The firm also lowered its price target to $28 from $32 on the airline carrier due to a decline in passenger revenue per available seat mile.
Passenger revenue per available seat mile fell 0.6% year-over-year to 11.96 cents for the third quarter 2015, JetBlue reported on Tuesday before the market open.
While the company may see earnings growth into 2016 and 2017, passenger revenue per available seat mile is expected to remain soft compared with its previous performance and other airline carriers, Credit Suisse said in an analysts note.
Yesterday morning, JetBlue posted earnings of 58 cents per share, beating estimates by 1 cent, and revenue of $1.69 billion, in line with analysts' estimates, for the third quarter of 2015.
Separately, TheStreet Ratings team rates JETBLUE AIRWAYS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
We rate JETBLUE AIRWAYS CORP (JBLU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: JBLU