United, JetBlue have 40% upside ahead, JPMorgan says in upgrade to overweight

A United Airline and a JetBlue airliner are seen in El Dorado International Airport in Bogota, Colombia.
Thierry Monasse | Corbis | Getty Images

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Airline stocks have been among the hardest hit by Covid-19 as travel continues to stay at depressed levels, but JPMorgan believes some companies are better equipped than others to weather the storm. On Wednesday the firm upgraded United Airlines to overweight from neutral, while double upgrading JetBlue to overweight from underweight.