A United Airline and a JetBlue airliner are seen in El Dorado International Airport in Bogota, Colombia.
Thierry Monasse | Corbis | Getty Images
(This story is for CNBC PRO subscribers only.)
The run-up in red hot airline shares can't last, according to JPMorgan.
The firm on Tuesday downgraded JetBlue to underweight from neutral and United Airlines to neutral from overweight, citing four reasons why the rally is likely to end.
JPMorgan also lowered its revenue forecast for the major airlines for the second half.
The rally in airline shares has been the talk of Wall Street. The U.S. Global Jets ETF, which contains all the major players, is up more than 80% from its pandemic low and is up 50% in the last one month alone. United is up 75% in the last month, while JetBlue is up 56%.
Investors have been betting on consumers slowly returning to the skies and airlines adding flights to their summer schedules.
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June 10, 2020 at 06:05PM
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JPMorgan downgrades United and JetBlue, says comeback rally can't last - CNBC
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