Shares of JetBlue Airways Corporation (NASDAQ: JBLU) jumped more than 6% in today’s trading. The stock opened at $6.80 and reached a 52-week high of $6.95 in trading. At last check, it was up 6.31% to $6.91, with volume up from daily average of 7.15 million to 7.18 million.
Forest Hills, New York-based JetBlue Airways mainly operates on point-to-point routes. The airline has a fleet of 100 Airbus aircraft and 41 EMBRAER 190 aircraft.
The stock spiked in today’s trading after a ratings upgrade. Earlier today, Merrill Lynch upgraded JetBlue Airways from Neutral to Buy rating. In its research note, Merrill Lynch said that the airline’s yields have positively surprised during peak demand months. The brokerage firm also expects an upside to its earnings estimate of $0.08 per share for the second quarter. The price target for the JetBlue Airways stock has been set at $11.
Last week, JetBlue reported its preliminary traffic results for the month of May. The company reported an 8% increase in traffic for the month of May, on a capacity increase of 4.5%. Load factor increased by 3.0 percentage points to 81.3% in May. The company reported a preliminary completion factor of 98.9%. Passenger revenue per available seat mile increased 13% in the month of May.
JetBlue Airways stock has a 52-week range of $3.72-$6.95. The stock is currently trading above its 50-day and 200-day moving averages. It has seen support at $$6.30 and resistance at $6.60. Following the spike today, the stock has breached its resistance level.
The consensus recommendation on the JetBlue Airways stock is Outperform. Currently, it has 5 Buy and 1 Outperform rating against 6 Hold and 1 Sell rating.
About BeaconEquity.com
BeaconEquity.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily on the underserved OTC stocks market, or “penny stock” market, which has traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
- Need fast service and cheap rates from a broker? Buy stock online at my favorite brokerage
- See today’s top stock picks and market analysis
- Want more? Check out the message board buzz for these stocks
- See what newsletters are recommending these stock picks
- Get breaking news alerts on these stocks: http://thestockmarketwatch.com/
- This newsletter has been helping traders make a killing on these stocks. Click here for a 25% discount offer.
About BeaconEquity.com
BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
Beacon Equity Group Disclaimer
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
