JetBlue price target lowered to $5.75 from $7.50 at Citi

Citi lowered the firm’s price target on JetBlue to $5.75 from $7.50 and keeps a Neutral rating on the shares. The analyst says questions about the resilience of U.S. discount airline demand, higher interest rates, broader uncertainty on the U.S. economic outlook, continued oil price volatility and aerospace supply chain issues “seem to create a challenging scenario” for JetBlue and some peers. In addition, JetBlue is in the midst of trying to acquire a competitor for a large premium, as that competitor also appears to be facing some economic deterioration, the analyst tells investors in a research note.