Raymond James analyst Savanthi Syth lowered the firm’s price target on Azul (AZUL) to $4 from $5 and keeps an Outperform rating on the shares. The firm’s price target change reflects a slightly improved foreign exchange forecast, a lower fuel price outlook, with some commensurate softening in revenue, and an updated dilution forecast, the analyst tells investors in a research note. The firm believes demand trends in Azul’s markets have remained stable in contrast to trends at U.S. airlines.
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