HSBC Downgrades Volaris (VLRS) to Reduce (Earlier)
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HSBC analyst Alexandre Falcao downgraded Volaris (NYSE: VLRS) from Hold to Reduce.
The analyst says the in light of the recent appreciation in oil prices, VLRS' path toward positive EBIT in FY 2019 would require more than the constructive 3-4% growth in yields assumed in HSBC's model which is unrealistic given the current competitive scenario according to a morning research note.
Shares of Volaris closed at $8.27 yesterday.
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