UBS Raises Gol, Like Airlines

UBS Raises Gol, Like Airlines

Brazil

UBS has upgraded Brazil’s Gol equity to a buy following a broadly bullish review of the LatAm airline sector. Copa is the shop’s top pick and it also maintains buy recommendations on Lan and Tam. The Copa price target was upped 8% to $42, Gol’s 13% to BRL13, while Lan’s target was held at $12 and Tam’s fell 8% to BRL34. “We continue to believe earnings for the LatAm airline group will prove fairly resilient in 2009,” says UBS. “We are revising our estimates for the LatAm airline space, incorpora

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