Form 6-K was filed after the close on Friday........ "Statement of an Increase in Shareholding Interest" - Bank of American increased it's holdings in GOL. They have purchased both ADR's and Local Preferred shares that now total 6,923,268 shares.... or 5.13% of all outstanding shares.
A $9 Target on GOL, from the Best Airline Analyst on the Street!
Imperial Capital reiterated an Outperform rating on Gol Linhas Aereas Inteligentes (NYSE: GOL) and raised its price target from $6 to $9, saying September traffic report highlights the benefit of recent capacity cuts.
"Reported traffic from GOL released prior to market open on 10/22/13 highlights the positive impact that recent capacity cuts have had on unit revenues (RASK)," analyst Bob McAdoo states. "Although we believe this may not be understood by some analysts and investors, this blueprint toward RASM improvement has been laid out by U.S. carriers since 2006. As a softer U.S. economy in recent years has not kept U.S. airlines from generating record profits, we believe a soft Brazilian economy can be more than compensated for by focusing on continued improvements to RASK through further reductions in capacity. In a recent conference call held to discuss the September traffic release, management was asked to provide an indication of growth in 2014. While management did not provide specific answers, we took away the belief that it is likely to further selectively reduce capacity. In our view, this should drive further RASK improvement in 2014."