- JetBlue Airways (JBLU) rose by 4% on Tuesday after Citigroup upgraded the stock to a buy.
- We’re way ahead of them, with our analysis showing positive patterns forming and a base completed.
itigroup analyst Kevin Cassidy upgraded JetBlue from neutral to buy, increasing his price target to $26. This represents over 40% of upside using yesterday’s closing price.
Cassidy explains that, “JetBlue currently has the strongest near-term pricing outlook. With fuel prices down sharply and unit revenue looking healthy, near term EPS estimates are likely to move importantly higher.”
Our analysis focuses on the stock’s market cycles. This one completed its previous cycle early, which is a bullish indicator. We see more upside before it hits our Fibonacci extension target zone. Our near-term target is 20-21, with higher prices probable into the summer.
For more from Slim, or to learn about cycle analysis, check out the askSlim Market Week show every Friday on our YouTube channel.