Azul downgraded to Neutral from Buy at Seaport Research

Seaport Research analyst Daniel McKenzie downgraded Azul to Neutral (AZUL) from Buy with no price target A potential merger with Gol Linhas (GOL) prompted the firm to upgrade Azul in January given “compelling deal economics,” though shares have fallen 11.6% since then and the firm is “conceding the stock has moved against us.” At this point, the data cut against the firm’s 2025 outlook, though it remains constructive further out, the analyst tells investors.