JPMorgan analyst Jamie Baker downgraded Alaska Air Group (ALK) to Neutral from Overweight with a price target of $76, down from $79. The analyst also upgraded JetBlue Airways (JBLU) to Overweight from Neutral with a price target of $24, up from $23. Alaska shares trade at a premium to JetBlue, and have surged to the second-highest valuation in the group, Baker tells investors in a research note. He believes it is time to take profits in the name. With the second lowest target price-to-earnings multiple in the group, JetBlue shares imply "attractive upside potential," contends Baker. He believes investors are being adequately compensated for RASM uncertainty, execution risk, "and a network prone to chronic meteorological disruption."