AZUL - Why Azul Stock Soared Nearly 7% Higher This Week
2023-09-22 18:45:31 ET
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.
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Why Azul Stock Soared Nearly 7% Higher This Week