Zacks Investment Research upgraded shares of Gol Linhas Aereas Inteligentes S.A. (NYSE:GOL) from a hold rating to a buy rating in a research report sent to investors on Monday morning. The brokerage currently has $19.00 target price on the transportation company’s stock.

According to Zacks, “Shares of GOL Linhas have outperformed its industry in the last six months. Ushering in further good news, the company reported better-than-expected results in the second quarter of 2017. Moreover, the top line improved significantly year over year. The carrier's view for full-year 2017 is also encouraging. An improving Latin American economy is also aiding GOL Linhas. We expect the company’s focus on capacity discipline to result in increasing yields, going forward. However, the carrier's earnings per share declined significantly in the second quarter due to higher expenses on aircraft fuel. Moreover, total volume of departures fell 5.1%, while total number of seats available declined 4.1% in the quarter. GOL is also highly dependent on the products of certain big suppliers and operates in a competitive Latin American airline space.”

A number of other analysts also recently issued reports on GOL. BidaskClub upgraded Gol Linhas Aereas Inteligentes from a hold rating to a buy rating in a research report on Thursday, August 24th. ValuEngine upgraded Gol Linhas Aereas Inteligentes from a buy rating to a strong-buy rating in a research report on Monday, August 14th. Citigroup Inc. downgraded Gol Linhas Aereas Inteligentes from a neutral rating to a sell rating in a research report on Thursday, May 18th. Finally, Bank of America Corporation upgraded Gol Linhas Aereas Inteligentes from a neutral rating to a buy rating and set a $20.00 price target for the company in a research report on Wednesday, July 5th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $21.13.

Gol Linhas Aereas Inteligentes (NYSE:GOL) opened at 17.85 on Monday. Gol Linhas Aereas Inteligentes has a 12-month low of $5.77 and a 12-month high of $17.96. The company’s market cap is $1.24 billion. The stock has a 50 day moving average of $15.41 and a 200-day moving average of $14.16.

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Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Gol Linhas Aereas Inteligentes during the first quarter worth $110,000. Goldman Sachs Group Inc. purchased a new stake in Gol Linhas Aereas Inteligentes during the first quarter worth $233,000. KCG Holdings Inc. purchased a new stake in Gol Linhas Aereas Inteligentes during the first quarter worth $312,000. Pinnacle Associates Ltd. purchased a new stake in Gol Linhas Aereas Inteligentes during the first quarter worth $331,000. Finally, Bank of America Corp DE increased its stake in Gol Linhas Aereas Inteligentes by 6.9% in the first quarter. Bank of America Corp DE now owns 13,973 shares of the transportation company’s stock worth $370,000 after buying an additional 901 shares during the last quarter. Institutional investors own 0.04% of the company’s stock.

Gol Linhas Aereas Inteligentes Company Profile

Gol Linhas Aereas Inteligentes SA (GOL) is an airline company. The Company is engaged in providing mobile geolocation services to its passengers and designing a Website featuring accessibility resources to assist people with visual and motor impairments. The Company operates through two segments: Air transportation and Loyalty program.

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