Citi Ups JetBlue's Outlook, Spotting Potential Wins Amid Airline Industry Shakeup
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Citi has upgraded JetBlue Airways' rating from Sell to Neutral, citing potential advantages amid the airline industry's ongoing mergers and a more favorable regulatory environment. Analyst John Godyn notes that JetBlue has unique strategic options as the market consolidates, particularly with the pending Allegiant-Sun Country merger and Spirit Airlines' bankruptcy. Citi raised JetBlue's price target from $4 to $6, indicating optimism about its position in the evolving landscape. This upgrade reflects a shift in expectations for airline investors following a tumultuous period of takeovers and bankruptcies.
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