Brazil's (NYSE: AZUL) has emerged from the pandemic as one of Latin America's strongest airlines, and Wall Street is taking notice. Shares of Azul climbed more than 12% after Goldman Sachs upgraded the airline and named it the bank's top pick in the region.

Azul is a relative newcomer to the region, founded in 2008 by one-time JetBlue Airways CEO David Neeleman. The pandemic hit the entire airline industry hard, sending a number of Latin American carriers into bankruptcy. But Azul held up relatively well, and has been gaining market share in recent years.

Goldman Sachs analyst Bruno Amorim thinks the best is yet to come. Late Tuesday, the analyst upgraded Azul to buy from neutral and upped his price target for the shares to $18.30 from $14.90.

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Source Fool.com