Goldman Sachs: Azul Appears Poised For EBITDA Expansion After Stock Declined 35%
Portfolio Pulse from Priya Nigam
Goldman Sachs analyst Bruno Amorim has upgraded the rating for Azul SA (NYSE:AZUL) from Neutral to Buy, raising the price target from $14.90 to $18.30. Despite the company's shares declining by around 35% over the past three months, Amorim believes Azul is poised for EBITDA expansion going into 2024. The analyst cites the company's ability to pass on higher jet fuel prices to tariffs and the rational state of the main markets in the region as reasons for the upgrade.
September 20, 2023 | 5:02 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Azul SA's stock has been upgraded by Goldman Sachs from Neutral to Buy, with a raised price target of $18.30. The company's ability to pass on higher fuel costs to tariffs and the rational state of the main markets are seen as positive indicators for future growth.
The upgrade from Goldman Sachs, a leading global investment banking, securities and investment management firm, is a strong positive signal for Azul SA. The raised price target indicates that the firm sees significant upside potential for the stock. The company's ability to pass on higher fuel costs to tariffs is a positive sign for its profitability, which could lead to an increase in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100