Grupo Aeromexico (NYSE:AERO) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Grupo Aeromexico from a "buy" to a "hold" in a research note issued Saturday.
• Major banks including Deutsche Bank, Evercore, Goldman Sachs, Morgan Stanley and Citi initiated coverage with bullish ratings and price targets ranging from $25 to $36, and the stock holds a consensus "Moderate Buy" with an average target of $29.43.
• Several institutions purchased new stakes totaling roughly $1.04 billion, while the stock recently traded around $15.59 with a market cap of $2.13 billion and a 52-week range of $12.26–$23.05.

Grupo Aeromexico (NYSE:AERO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on AERO. Deutsche Bank Aktiengesellschaft initiated coverage on Grupo Aeromexico in a report on Wednesday, December 17th. They issued a "buy" rating and a $25.00 price target for the company. Evercore initiated coverage on Grupo Aeromexico in a report on Wednesday, December 17th. They issued an "outperform" rating and a $36.00 price target for the company. The Goldman Sachs Group started coverage on Grupo Aeromexico in a report on Wednesday, December 17th. They issued a "buy" rating and a $35.00 price target for the company. Morgan Stanley started coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued an "overweight" rating and a $30.00 price objective for the company. Finally, Citigroup started coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued a "buy" rating and a $27.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.43.

Grupo Aeromexico Stock Performance

Shares of NYSE AERO opened at $15.59 on Friday. The firm has a market capitalization of $2.13 billion and a P/E ratio of 20.79. The business has a 50-day simple moving average of $16.59. Grupo Aeromexico has a fifty-two week low of $12.26 and a fifty-two week high of $23.05.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AERO. Par Capital Management Inc. purchased a new position in Grupo Aeromexico during the fourth quarter valued at approximately $304,155,000. Silver Point Capital L.P. purchased a new position in Grupo Aeromexico during the fourth quarter valued at approximately $289,274,000. Strategic Value Partners LLC purchased a new position in Grupo Aeromexico during the fourth quarter valued at approximately $208,318,000. Nut Tree Capital Management LP purchased a new position in Grupo Aeromexico during the fourth quarter valued at approximately $130,652,000. Finally, Baupost Group LLC MA purchased a new position in Grupo Aeromexico during the fourth quarter valued at approximately $106,620,000.

Grupo Aeromexico Company Profile

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.

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