- Analyst Kevin Crissey expects favourable short term trends to increase earnings estimates
- Believes forecasts for 2020 may be too conservative
- Year-to-date stock gain of 14% versus 15% rise for S&P 500
JetBlue Airways Corp (NASDAQ:JBLU) shares were set to take off on Tuesday after Citi said lower fuel prices and positive pricing trends will boost earnings in 2019.
“With fuel prices now well below levels when guidance was provided, [revenue per available seat mile] can be weak or even negative, and JetBlue can still exceed consensus,” analyst Kevin Crissey said in a note.
JBLU shares are already up 14% since 1st January, and there were more gains (+4%) in premarket as investors looked favourably on the potential for higher-than-expected earnings per share in FY2020.