New York, July 6, 2026, 13:06 (EDT)
- JetBlue Airways Corporation NASDAQ:JBLU traded up 0.7% at $6.07. This move came after Raymond James lowered its rating to Underperform.
- The stock moved past the $5.24 average analyst target and also cleared the $5.00 median target.
- JetBlue on June 1 raised second-quarter RASM guidance to 9%–12% and bumped up its fuel cost outlook to $4.26–$4.36 a gallon.
- Debt and finance leases stood at $8.49 billion as of March 31, roughly 3.8 times what the company was valued at on Monday.
JetBlue Airways Corporation NASDAQ:JBLU climbed Monday. This came after Raymond James Financial NYSE:RJF downgraded the airline to Underperform. The move leaves investors asking why the shares are holding above Wall Street targets when the company’s balance sheet still looks like a stressed situation.
Shares traded at $6.07, up 0.7% in the afternoon, with about 20.2 million shares changing hands. The U.S. Global Jets ETF NYSEARCA:JETS was up 0.6%. Frontier Group Holdings NASDAQ:ULCC climbed 3.8%. Delta Air Lines NYSE:DAL slipped 0.6%, while United Airlines Holdings NASDAQ:UAL added 0.5% and Southwest Airlines NYSE:LUV was up 0.7%.
Raymond James analyst Savanthi Syth said both JetBlue and Frontier stood to gain from Spirit’s exit, but Frontier was in a better spot for near-term gains in fares and margins. Syth said JetBlue is “a more valuable long-term strategic asset,” but called the stock’s upside “limited” after its recent jump, per Investing.com. Investing.com
The firm said it doesn’t see JetBlue facing liquidity trouble in 2026 unless there’s a new macro shock. Still, it called a Chapter 11 restructuring a “more prudent course of action,” though it said that would be unattractive for current equity holders. Investing.com
This matters since the stock has run ahead of the estimates. At Monday’s close, the average analyst target is about 14% below the current price. The median is about 18% lower.
MarketWatch posts JetBlue targets and analyst estimates. JetBlue’s revised guidance is in its June 1 8-K filing.
| Forecast measure | Latest figure | Investor read |
|---|---|---|
| Current share price | ~$6.07 | Trades over the average and median targets |
| Average analyst target | $5.24 | Roughly 14% under the current price |
| Median analyst target | $5.00 | About 18% lower than shares |
| High / low analyst target | $8.00 / $2.00 | Range is wide, risk seen high |
| Q2 EPS estimate | -$0.72 | Loss expected again |
| 2026 EPS estimate | -$2.39 | Full-year loss outlook |
| 2027 EPS estimate | -$0.61 | Loss seen narrowing, no average profit |
JetBlue has lifted its Q2 revenue per available seat mile outlook to 9%–12%, up from 7%–11%, according to its latest operating update. The company now sees capacity growing 2%–4%. Jet fuel costs are higher too, now pegged at $4.26–$4.36 a gallon compared to $4.13–$4.28 before. The stronger revenue forecast gives bulls something to work with even if the chart doesn’t show it.
| Q2 2026 company guide | Prior guide | Current guide | Change |
|---|---|---|---|
| ASMs year over year | 1.5%–4.5% | 2.0%–4.0% | Narrowed |
| RASM year over year | 7.0%–11.0% | 9.0%–12.0% | Raised |
| CASM ex-fuel year over year | 3.0%–5.0% | 3.0%–5.0% | Unchanged |
| Fuel per gallon | $4.13–$4.28 | $4.26–$4.36 | Higher |
| Capital spending | ~$275 million | ~$225 million | Lower |
JetBlue reported a 99.8% completion factor for the quarter so far and said demand is still steady. The company noted better performance on routes it took over from Spirit after that carrier’s shutdown. JetBlue also now expects to recover at least 40% of higher fuel costs in the quarter.
JetBlue is carrying more on the debt side. As of March 31, JetBlue reported $8.49 billion in debt and finance lease obligations, with $8.44 billion in scheduled maturities after debt issuance costs. The company had $2.4 billion in unrestricted cash, cash equivalents and investment securities. There’s also a $600 million undrawn credit line with Citibank. Numbers are from JetBlue’s March-quarter filing.
S&P Global Ratings, under S&P Global NYSE:SPGI, downgraded JetBlue to CCC+ from B- on June 8. S&P said JetBlue’s operating performance will be “significantly pressured” for at least the next year and it does not expect positive free cash flow before 2028. Reuters
JetBlue execs stuck to their message on demand and cost. CEO Joanna Geraghty said in April, “Demand trends strengthened as the quarter progressed.” President Marty St. George pointed to “continued strength across the booking curve.” CFO Ursula Hurley called the “operating environment” volatile with fuel prices still high. JetBlue Newsroom
