New analyst takes on Azul (NYSE: AZUL) this week gave the company's stock a decent lift. Across that stretch of time, as data compiled by S&P Global Market Intelligence reveal, the South American airline's share price improved by nearly 7%.
Over the week, not one but two prognosticators found their inner bull with Azul. The first of the pair was Goldman Sachs' Bruno Amorim, who on Tuesday upgraded his recommendation on the airline stock. Amorim now believes it's a buy, from his previous neutral. He also enacted a notable raise in his price target, to $18.30 per share; the preceding level was $14.90.
Travel is a popular activity these days, and many airlines throughout the world are thriving. The Goldman Sachs analyst said that the company's profitability is not reflected in its relatively weak share price, creating a notable buy opportunity. For him, Azul is the top Latin American airline stock pick now.
Three days later, HSBC's Cenk Orcan initiated coverage on Azul stock. Like Amorim he's rather bullish on its prospects, tagging it with a buy recommendation. It wasn't immediately apparent why he was so positive; likely his reasoning reflects that of his Goldman Sachs peer.
It isn't hard to be positive on Azul's prospects these days. Last month the company released its latest quarterly figures, and some were rather impressive. Although the company booked a loss, the shortfall was much narrower than the consensus analyst estimate. Revenue, meanwhile, more or less met expectations.
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