Imperial Capital analyst Michael Derchin lowered his price target for Spirit Airlines to $83 from $92 to reflect reflect higher fuel prices and conservatism on fiscal 2020 unit revenues. The analyst, however, says Spirit remains his top pick with an Outperform rating. Current share valuations are attractive due to moderate capacity growth, greater yield management capabilities, ancillary revenue growth with key initiatives in the pipeline, cost controls, and "significantly improved" operational reliability resulting in top-tier margins, Derchin tells investors in a research note.

JPMorgan upgraded JetBlue (JBLU) to Neutral from Underweight with a $7 price target. The company is increasingly well-positioned for a modest potential move to the upside based on improving market sentiment, and its upcoming Q2 guide coming next week may exceed consensus, the analyst tells investors in a research note. JetBlue is the second least-liked airline based on sell-side ratings, after Spirit (SAVE), with short interest on the stock also remaining "stubbornly high", the firm added.