|Written by GSCR Staff|
|Thursday, 21 June 2012 09:14|
Oil broke below the $80/barrel mark today and there is talk of a continued serious slide downward. While we as consumers may cheer this news, since it “will/may” have an incremental impact on gas prices, who really benefits?
JetBlue Airways Corporation (NASDAQ – JBLU - $5.35) could be a real beneficiary of low oil prices as it could boost its profitability for part of this quarter, considering the 25% drop in oil prices in Q2. It could have an even more profound impact in Q3. The stock broke through a key resistance point today and we think it can approach the 52-week high of $6.32 as investors focus in on oil price drop beneficiaries. We believe that this has already been reflected in the stock price, but only to a limited degree. Thus, we believe there is more gas in the tank…
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