Gol Linhas (GOL -2.7%) shrugs off an upbeat initiation at Imperial Capital today to trade lower....


Gol Linhas (GOL -2.7%) shrugs off an upbeat initiation at Imperial Capital today to trade lower. The firm starts coverage with an Outperform rating and a $6 price target, saying the company is executing its turnaround plan and delivering strong results that aren't factored into the share price, largely due to investor concerns over Brazilian public protests and the weaker Real. Capacity reductions at the airline are moving average fares higher, taking the onus off relying on fare cutting as a traffic generating tool.

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