Azul (NYSE:AZUL) Shares Gap Up – Should You Buy?

Shares of Azul (NYSE:AZUL) 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 trading hands.

Analysts Set New Price Targets

AZUL has been the subject of several analyst reports. Weiss Ratings initiated coverage on Azul in a report on Friday, July 10th. They set a “sell (d)” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Azul in a research note on Wednesday, September 9th. They set a “buy” rating and a $11.00 price objective for the company. Zacks Research upgraded shares of Azul to a “strong sell” rating in a research note on Wednesday, July 22nd. Wall Street Zen cut shares of Azul from a “hold” rating to a “sell” rating in a report on Tuesday, September 8th. Finally, BWS Financial reissued a “buy” rating and set a $20.00 price target on shares of Azul in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Azul Stock Up 1.7%

The firm’s fifty day simple moving average is $7.50.

Azul Company Profile

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.