JetBlue falls after Raymond James cuts rating to 'market perform'

JetBlue Airways' shares JBLU.O fall 1.6% to $4.95premarket

Raymond James downgrades rating to "market perform" from "outperform", maintains PT of $5.00

Brokerage steps off "tactical" upgrade of JBLU rating it made post April earnings as shares reached its $5 PT

"Our estimates are unchanged... albeit improvements in the global trade landscape have likely ameliorated aleatory pressures on both JetBlue and the broader U.S. airline group." - Raymond James

"Should there be a meaningful market/economic downturn, we still believe JetBlue is a survivor and don’t see liquidity risk."

One of 17 brokerages rates the stock "buy" , nine "hold" and seven "sell" or lower; their median PT is $4 - LSEG compiled data
As of last close, stock had fallen 36% YTD