Fintel reports that on June 2, 2023, Goldman Sachs maintained coverage of Azul S.A. – ADR (NYSE:AZUL) with a Neutral recommendation.

Analyst Price Forecast Suggests 11.63% Upside

As of June 2, 2023, the average one-year price target for Azul S.A. – ADR is 12.50. The forecasts range from a low of 8.08 to a high of $23.10. The average price target represents an increase of 11.63% from its latest reported closing price of 11.20.

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The projected annual revenue for Azul S.A. – ADR is 3,703MM, a decrease of 78.51%. The projected annual non-GAAP EPS is -1.50.

What is the Fund Sentiment?

There are 96 funds or institutions reporting positions in Azul S.A. – ADR. This is a decrease of 5 owner(s) or 4.95% in the last quarter. Average portfolio weight of all funds dedicated to AZUL is 0.10%, a decrease of 5.60%. Total shares owned by institutions increased in the last three months by 10.74% to 51,228K shares. The put/call ratio of AZUL is 0.76, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital Research Global Investors holds 7,570K shares representing 2.18% ownership of the company. In it’s prior filing, the firm reported owning 7,678K shares, representing a decrease of 1.42%. The firm increased its portfolio allocation in AZUL by 8.95% over the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 6,441K shares representing 1.85% ownership of the company. In it’s prior filing, the firm reported owning 6,549K shares, representing a decrease of 1.67%. The firm increased its portfolio allocation in AZUL by 7.53% over the last quarter.

Oaktree Capital Management holds 4,946K shares representing 1.42% ownership of the company. In it’s prior filing, the firm reported owning 5,008K shares, representing a decrease of 1.24%. The firm increased its portfolio allocation in AZUL by 20.74% over the last quarter.

Frontier Capital Management Co holds 4,385K shares representing 1.26% ownership of the company. In it’s prior filing, the firm reported owning 1,105K shares, representing an increase of 74.80%. The firm increased its portfolio allocation in AZUL by 340.95% 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 99.93% over the last quarter.

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 article originally appeared on Fintel

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