Citi places ‘positive catalyst watch’ on JetBlue

Citi placed a “30-day positive catalyst watch” on shares of JetBlue saying the potential for lower interest rates could provide opportunities for the company to refinance its debt and benefit from lower interest expense. Although refinancing opportunities in the next 30 days seem unlikely, September’s Federal Reserve meeting might at least provide the market with more of a path towards lower, long-term net interest expense for JetBlue and other highly levered carriers, the analyst tells investors in a research note. Citi keeps a Neutral rating on JetBlue with a $5.75 price target.