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Raymond James lowered its rating on JetBlue Airways shares to market perform from outperform, predicting the airline will face a more difficult business environment in 2017.
"We are downgrading shares of JBLU ... as we believe RASM [revenue per available seat mile] pressures from capacity growth and new market expansion, in addition to cost inflation, will keep shares range bound in the near term," analyst Savanthi Syth wrote in a note to clients Wednesday. "We move to the sidelines given the near term relative headwinds and balanced risk-reward."
