Raymond James analyst Savanthi Syth lowered the price target on Azul SA (NYSE: AZUL ) to $12 (an upside of 83%) from $22 while maintaining the Outperform rating on the shares.
The analyst updated earnings estimates to reflect a higher fuel price forecast, including elevated refining margins, and a weaker BRL relative to the USD, partly offset by strong demand and yields.
Syth believes the current share price offers an attractive risk-reward point, supported by Azul’s differentiated network, unique cargo opportunity, and potential to meaningfully increase its ... Full story available on Benzinga.com