Azul (NYSE:AZUL) Shares Gap Up – Here’s Why

Azul (NYSE:AZUL)’s share price gapped up before the market opened on Thursday. The stock had previously closed at $7.18, but opened at $7.59. Azul shares last traded at $7.40, with a volume of 88,423 shares changing hands.

Wall Street Analysts Forecast Growth

AZUL has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Azul in a research report on Wednesday, September 9th. They issued a “buy” rating and a $11.00 target price for the company. Zacks Research raised Azul to a “strong sell” rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded Azul from a “hold” rating to a “sell” rating in a report on Tuesday, September 8th. Weiss Ratings started coverage on Azul in a research report on Friday, July 10th. They issued a “sell (d)” rating on the stock. Finally, BWS Financial restated a “buy” rating and set a $20.00 price target on shares of Azul in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Azul Stock Performance

The business has a 50-day moving average of $7.50.

About Azul

Azul SA is a Brazilian airline that provides scheduled passenger air transportation on domestic and international routes. The company serves cities throughout Brazil and connects the country with destinations in South America, the United States, Europe and other international markets.

Azul operates a diversified fleet designed for both regional and mainline service. In addition to passenger flights, its businesses include air cargo transportation through Azul Cargo Express, travel packages and related services through Azul Viagens, and a customer loyalty program known as Azul Fidelidade.

Founded in 2008 by aviation entrepreneur David Neeleman, Azul has focused on expanding air connectivity in Brazil, including service to locations with limited access to other forms of commercial air transportation.