NEW YORK (TheStreet) -- Shares of JetBlue Airways Corp. (JBLU) are down 2.08% to $12.68 in pre-market trading Wednesday after the company was downgraded to "neutral" from "overweight" at JPMorgan Chase.
The firm reaffirmed its price target of $15.50 for the American low-cost airline.
JPMorgan Chase says it lowered JetBlue Airways' rating as shares have handily outperformed sector and investors should look to take profits given current valuation.
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"While we anticipate JBLU will come out swinging and quantify several return-enhancing initiatives to propel 2015 estimates above the $1 consensus, the likelihood of surpassing our Street-high $1.60 seems low," said analysts at JP Morgan.
Separately, 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 several positive factors, 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, growth in earnings per share, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."