Airline stocks were mixed on Friday after Bank of America upgraded American Airlines Group Inc. and downgraded Southwest Airlines Co. and JetBlue Airways Corp., predicting that the network carriers will continue to outperform low-cost airlines due to demand for premium travel.
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JetBlue is bringing back nonstop service to New York City, a market it last served from Pittsburgh nearly 12 years ago.
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JetBlue will also launch five new routes out of Boston, including to Edinburgh, Madrid and Halifax, Nova Scotia. “We’re excited to build on our momentum, offering customers across the Northeast and beyond even more travel opportunities,” said Daniel Shurz, JetBlue’s head of revenue, network, and enterprise planning, in a Wednesday statement.
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $6.92, with a high estimate of $8.00 and a low estimate of $5.00. This current average has increased by 14.0% from the previous average price target of $6.07.
JetBlue (Nasdaq: JBLU) already connects Pittsburgh and Boston, and has served Florida cities from Pittsburgh as well in the past. And it's no stranger to the JFK-Pittsburgh route. It connected the two cities using Embraer 190 aircraft from June 2006 until February 2013.