UPDATE: Morgan Stanley Reiterates on Gol Linhas Aereas Inteligentes SA Following Solid Yield/Load Factor Report

In a report published Monday, Morgan Stanley analyst Eduardo S. Couto reiterated an Equal-Weight rating on Gol Linhas Aereas Inteligentes SA (NYSE: GOL), but removed the $4.90 price target.

In the report, Morgan Stanley noted, “GOL reported solid yield and load factor in Nov 2013, pushing revenue per seat up 22% y/y despite an already higher base from Nov 2012. We adjust 4Q13 numbers incorporating this better revenue environment partially offset by high costs from a weak BRL. We expect 4Q13 EBIT margin at 5.0%.”

Gol Linhas Aereas Inteligentes SA closed on Friday at $4.28.