Why JetBlue (JBLU) Stock Closed Up Today

NEW YORK (TheStreet) -- Shares of JetBlue Airways Corp.  (JBLU) closed up 3.24% to $12.73 on very heavy trading volume after Cowen & Co. (COWN)  earlier today applauded an expected change in the air carrier's strategy, in which it will start favoring shareholders over customers, according to MarketWatch.

Analyst Helane Becker raised her investment rating on the airline's stock to "outperform" from "market perform", and raised her price target to $15 -- about 18% above current prices -- from $10.

She believes JetBlue could make a management change at the top that leads to a shift in its philosophy, in which a customer's comfort may be sacrificed to cut costs and improve the bottom line.

 

Shares of JetBlue are slightly higher in after-hours trading.

TheStreet Ratings team rates JETBLUE AIRWAYS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate JETBLUE AIRWAYS CORP (JBLU) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."

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