JetBlue shares surged Friday after Seaport Research Partners upgraded the stock from neutral to buy. The firm established a price target of $8.00. Shares gapped up to $5.98 at the market open, rising from a previous close of $5.51.
The upgrade provides a bullish counterpoint to a warning from founder David Neeleman. On the previous day, Neeleman cautioned about the airline's financial stability and potential bankruptcy.
JetBlue continues to navigate volatility amid persistent merger and acquisition speculation. Market interest involves larger carriers including United, Southwest, and Alaska Airlines.