GOL Linhas Aereas Inteligentes S.A. GOL was a big mover last session with its shares surging over 22% on the day. The upside came on the speculation that with foreign companies now being allowed to own as much as 49 percent of a Brazilian airline, GOL will possibly have a foreign helping hand to bail it out from its troubles. The news triggered rumors that Delta Air Lines Inc. DAL, which already owns 16 percent of GOL’s preferred shares, could increase its stake in the carrier. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past month’s volatile price range of $4.10 to $5.78.
This air transportation services company has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate has also remained unchanged over the same period. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
GOL currently has a Zacks Rank #3 (Hold) and its Earnings ESP is 0.00%.
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