On March 15, 2023, Morgan Stanley upgraded their outlook for Azul (NYSE:AZUL) from Underweight to Equal-Weight.
Analyst Price Forecast Suggests 79.85% Upside
As of March 16, 2023, the average one-year price target for Azul is $13.15. The forecasts range from a low of $6.06 to a high of $34.12. The average price target represents an increase of 79.85% from its latest reported closing price of $7.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Azul is $3,703MM, a decrease of 76.78%. The projected annual non-GAAP EPS is -$1.50.
What are Large Shareholders Doing?
Capital Research Global Investors holds 7,678K shares representing 2.21% ownership of the company. No change in the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 6,549K shares representing 1.88% ownership of the company. No change in the last quarter.
Oaktree Capital Management holds 5,008K shares representing 1.44% ownership of the company. In it's prior filing, the firm reported owning 4,378K shares, representing an increase of 12.58%. The firm decreased its portfolio allocation in AZUL by 17.79% over the last quarter.
Pendal Group holds 3,071K shares representing 0.88% ownership of the company. In it's prior filing, the firm reported owning 2,960K shares, representing an increase of 3.63%. The firm decreased its portfolio allocation in AZUL by 57.22% over the last quarter.
Schonfeld Strategic Advisors holds 2,340K shares representing 0.67% ownership of the company. In it's prior filing, the firm reported owning 359K shares, representing an increase of 84.66%. The firm increased its portfolio allocation in AZUL by 386.75% over the last quarter.
What is the Fund Sentiment?
There are 101 funds or institutions reporting positions in Azul. This is a decrease of 16 owner(s) or 13.68% in the last quarter. Average portfolio weight of all funds dedicated to AZUL is 0.10%, a decrease of 10.72%. Total shares owned by institutions decreased in the last three months by 11.37% to 46,015K shares. The put/call ratio of AZUL is 1.66, indicating a bearish outlook.
Azul Background Information
(This description is provided by the company.)
Azul S.A., the largest airline in Brazil by number of flight departures and cities served, offers around 700 daily flights to 117 destinations. With an operating fleet of 162 aircraft and more than 11,000 crewmembers, the Company has a network of more than 200 non-stop routes. In 2020 Azul was awarded best airline in the world by TripAdvisor, the first time a Brazilian Flag Carrier ranked number one in the Traveler's Choice Awards.
This story originally appeared on Fintel.
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