BofA Downgrades Azul To Underperform From Neutral

BofA analyst Murilo Freiberger downgraded Azul SA AZUL to Underperform from Neutral and changed the price target to $20.80 (implying an upside of 1.27%), up from $15.
Freiberger states that Brazilian airlines have done an "impressive" job adjusting operations, negotiating liabilities, and sustaining liquidity during the COVID crisis, but there is limited upside from current valuation levels.
Freiberger adds that the "COVID bill" can impact cash flows, and the company's existent liabilities could also be underestimated.
Recently, Credit Suisse initiated coverage on the company with Outperform rating.
Price Action: AZUL shares are trading higher by 2.47% at $20.52 on the last check Monday.

Momentum6.24

Growth39.20

Quality-

Value36.74

Short

Medium

Long

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