BMO starts JetBlue coverage with 'market perform'

BMO initiates coverage on JetBlue Airways JBLU.O with "market perform" rating; price target at $4.5

New PT represents a 7.1% upside on stock's last close

Brokerage says the airline has ample access to capital to navigate the current period until macro conditions normalize and initiatives materialize into profits

However, says in the immediate term, the combination of elevated leverage and fuel price volatility will challenge the stock

Brokerage adds that a reduction in fuel prices would likely support greater-than-peer share price performance

As of last close, shares down about 7.7% YTD