JBLU Jets Higher on Raymond James Upgrade

JBLU is seeing attractively priced premiums at the moment

Deputy Editor
Apr 5, 2021 at 9:30 AM
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The shares of JetBlue Airways Corporation (NASDAQ:JBLU) are up 3.6% to trade at $21.10 at last check, after Raymond James upgraded the stock to "outperform" from "market perform." The firm cited recovery in international travel, sees long-term growth due to its transatlantic route, and noted that the company's daily bookings accelerated towards the end of March. 

On the charts, today's pop has JBLU hitting the $21 level, home to its March 15 nearly three-year high of $21.73 -- an area that has rejected the equity's highest rallies since March of 2018. With the 40-day moving average swooping in to catch the stock's most recent pullback, JetBlue stock is up 151.2% year-over-year. 

There are still plenty of room for upgrades amongst the brokerage bunch, as coming into today, six of the 11 analysts in coverage carried a "hold" or worse rating on JBLU. Plus, the 12-month consensus price target of $18.77 is a 7.9% discount to current levels. 

Lastly, now is a good time to weigh in on the security's next move with options. The stock's Schaeffer's Volatility Index (SVI) of 41% sits in the lowest percentile of its annual range, implying that options players are pricing in low volatility expectations at the moment. 

 

 

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