By Dhirendra Tripathi
Investing.com – Shares of airlines Southwest (NYSE:LUV), Spirit (NYSE:SAVE) and JetBlue (NASDAQ:JBLU) had a good day out Wednesday, boosted by JPMorgan's (NYSE:JPM) upgrade.
Southwest Airlines shares rose 1.3% after the brokerage upgraded the stock to neutral from underperform and raised its price target by 50%, to $66.
Spirit shares rose 3.6% on getting an overweight rating and a price target of $54, which is 74% higher than Tuesday’s close.
Similarly, the analyst rated JetBlue shares overweight, with a price target that is 67% higher than its closing price on Tuesday. The new target for the stock is $25, and the stock is already trading above $21 apiece, up 2.5%.
As countries lift restrictions and more vaccinations happen, sectors like aviation, restaurants, retail and general consumption segments are expected to do well, with people spending the money they saved last year because of the lockdown. There is also a pent-up demand that many consumer companies hope to benefit from.