In a report published Tuesday, Morgan Stanley analyst Eduardo S. Couto reiterated an Overweight rating on Embraer SA ERJ, but removed the $41.10 price target.
In the report, Morgan Stanley noted, “According to TAM's Chief Executive Marco Bologna the company plans to enter the regional aviation market and could order 20 regional jets by the end of 2014. This is another indication that Brazil's regional aviation can be a potential catalyst for Embraer jet orders in the short term.”
Embraer SA closed on Monday at $36.44.
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