Yet another analyst has turned cautious on Gol Linhas Aereas Inteligentes (NYSE: GOL), and investors are taking note. Shares of the Brazilian airline traded down about 14% on Tuesday after the company was the subject of a downgrade.

The global airline industry has been volatile since the pandemic, but Latin America was hit harder than most. Although Gol was able to avoid bankruptcy during the pandemic, a fate that befell some South American rivals, demand has been sluggish and uneven in recent years.

Gol has been on an upswing for most of this year, driven by lower expenses, a reworking of debt obligations, and a resumed interest in travel. Shares of the airline were up nearly 100% for the year as recently as July, but a series of analyst moves have brought the stock back to Earth of late.

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Source Fool.com