Why Embraer Stock Is Up Today
Shares of Embraer (NYSE: ERJ) gained more than 10% on Thursday morning after the Brazilian aerospace manufacturer was upgraded to a buy at Goldman Sachs. Trends in aviation are moving Embraer's way, according to Goldman, which should have a positive impact on the share price.
It has been a difficult few years for Embraer, with the company hit both by the pandemic, which hurt demand for new aircraft, and by an April 2020 decision by Boeing to walk away from a $4 billion deal to acquire Embraer's commercial operations. Boeing's decision left Embraer without a partner to help market its aircraft globally, a huge setback in its battle against giants including Airbus.
Image source: Embraer.
Source Fool.com
