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Fly News Breaks for August 13, 2019
GOL, AZUL
Aug 13, 2019 | 08:24 EDT
As previously reported, Buckingham analyst Daniel McKenzie downgraded Azul (AZUL) and Gol Linhas (GOL), each to Neutral from Buy, stating that the global macro backdrop is "taking a step backwards" just as competitive capacity "steps up meaningfully in the markets that matter most for both airlines." Additionally, foreign exchange headwinds imply downside for each in the second half, added McKenzie, who lowered his price target on Azul to $39 from $53 and cut his target on Gol shares to $19 from $27.
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