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Benzinga

Raymond James Cuts Azul’s Price Target By 45%

Raymond James analyst Savanthi Syth lowered the price target on Azul SA (NYSE: AZUL) to $12 (an upside of 83%) from $22 while maintaining the Outperform rating on the shares. The analyst updated earnings estimates to reflect a higher fuel price forecast, including elevated refining margins, and a weaker BRL relative to the USD, partly offset by strong demand and yields. Syth believes the current share price offers an attractive risk-reward point, supported by Azul’s differentiated network, uniqu