JetBlue Airways (NASDAQ:JBLU) Downgraded, EPS Lowered Far Below Consensus

JetBlue Airways (NASDAQ:JBLU) has done nothing since July 2010, according to Soleil, and downgraded the company on low earnings and expectations.

Soleil says, "We are reducing our investment rating on JBLU, slashing our 2011 EPS estimate to $0.32 from $0.46, with consensus currently at $0.50 and, for 2012, are introducing a $0.57 forecast, up 79% from this year...JBLU shares have literally done nothing since our 23 July 2010 upgrade to Buy from Hold, but the Amex Airline Index has risen 20% and the S&P 500 is up 18% over that time frame. We take that weak relative performance as a sign of low expectations, but probably not as low as flat 2011 earnings, and are therefore most comfortable for now on the sidelines here."

Soleil Securities downgraded JetBlue Airways (JBLU) from Buy
to Hold. JetBlue closed Friday at $5.88, falling $0.52, or 8.12 percent. Soleil cut their price target on JetBlue from $8 to $7.