Airline Stocks Trade Higher Despite Mixed Report Out of JP Morgan
By Market News Video Staff, Monday, October 25, 11:25 AM ET
Airline stocks are trading higher on Monday morning despite mixed reports from JP Morgan today. The investment firm downgraded shares of Southwest Airlines (NYSE:LUV) from overweight to neutral, but upgraded shares of Jetblue Airways (NASDAQ:JBLU) from neutral to overweight. Both moves were related to valuation, as the firm has a $15.50 price target on shares of LUV and a $9 price target on shares of JBLU.
The Guggenheim Airline ETF (FAA) is trading higher by about 1% this morning on the news. The ETF holds a 14% position in shares of Southwest Airlines and a 3.3% position in Jetblue Airways. For a full list of holdings for the Guggenheim Airline ETF, visit the FAA Holdings page.
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