Investing

Goldman Sachs Maintains Azul S.A. - ADR (AZUL) Neutral Recommendation

George Maybach

Published: July 12, 2023 6:15 pm

Fintel reports that on July 11, 2023, Goldman Sachs maintained coverage of Azul S.A. – ADR (NYSE:AZUL) with a Neutral recommendation.

Analyst Price Forecast Suggests 18.40% Upside

As of July 6, 2023, the average one-year price target for Azul S.A. – ADR is 14.04. The forecasts range from a low of 8.08 to a high of $19.95. The average price target represents an increase of 18.40% from its latest reported closing price of 11.86.

See our leaderboard of companies with the largest price target upside.

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 101 funds or institutions reporting positions in Azul S.A. – ADR. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to AZUL is 0.11%, an increase of 9.67%. Total shares owned by institutions increased in the last three months by 14.34% to 52,008K shares. The put/call ratio of AZUL is 0.89, 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 its 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 its 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 its 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 its 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 its 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.

Additional reading:

• RECENT DEVELOPMENTS
• AZUL S.A.
• AZUL INVESTMENTS LLP as Issuer AZUL S.A. AZUL LINHAS AÉREAS BRASILEIRAS S.A. as Guarantors UMB BANK, NATIONAL ASSOCIATION as Trustee, Registrar, Transfer Agent and Paying Agent Dated as of June 15, 2021 7.250% Senior Notes Due 2026 TABLE OF CONTENTS
• DESCRIPTION OF SECURITIES REGISTERED UNDER SECTION 12 OF THE EXCHANGE ACT
• Subsidiaries of Azul S.A.

This article originally appeared on Fintel