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Raymond James analyst Savanthi Syth lowered the firm’s price target on Azul (AZUL) to $5 from $6 and keeps an Outperform rating on the shares. Azul has successfully met all requirements to complete Phase 1 and 2 of the capital restructuring, which materially improves leverage, the analyst tells investors in a research note. The firm thinks currency headwinds likely pushes out by a few months Azul’s target of reaching R$7.4B of EBITDA in 2025, but does not expect the guidance to be revised this early in the year.
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