(GOL) Gol Linhas Aereas – Bull of the Day

October 6th, 2009

Gol Linhas Aereas (GOL) remains better positioned to capitalize on the growth of discount air travel in Brazil and the rest of Latin America given its strong market share position and efficient operations. Favorable trends in fuel prices and exchange rates are also benefiting the company’s outlook.

While competitive pressures and the impact of the global financial crisis is a source of concern, Gol’s position is strong. We expect the company to experience growth in the short-to-medium term given its continued investment in fleet renovation and international agreements.

Thus we are upgrading our recommendation on Gol ADRs from Neutral to Outperform. Our six-month target price is $12 per ADR.

Zacks Investment Research
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