Grupo Aeromexico (NYSE:AERO) Upgraded to "Strong-Buy" at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group upgraded Grupo Aeromexico (NYSE:AERO) to a Strong-Buy, and other recent analyst actions include multiple buy/outperform initiations; MarketBeat shows a consensus rating of Moderate Buy with a consensus target price of $29.43.
• Shares opened at $15.27 (down about 2.1%), trading well below the $29.43 consensus target with a one‑year range of $12.26–$23.05, a market cap of $2.08 billion and a PE of 20.35, while several institutional investors added new positions in Q4.

Grupo Aeromexico (NYSE:AERO - Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Evercore began coverage on Grupo Aeromexico in a research report on Wednesday, December 17th. They set an "outperform" rating and a $36.00 price target for the company. Citigroup began coverage on Grupo Aeromexico in a research report on Wednesday, December 17th. They set a "buy" rating and a $27.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Grupo Aeromexico from $28.50 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on Grupo Aeromexico in a report on Wednesday, December 17th. They issued a "buy" rating and a $25.00 price objective for the company. Finally, Wall Street Zen cut Grupo Aeromexico from a "buy" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.43.

Grupo Aeromexico Trading Down 2.1%

Shares of AERO opened at $15.27 on Monday. The stock's 50-day moving average price is $16.48. Grupo Aeromexico has a one year low of $12.26 and a one year high of $23.05. The firm has a market cap of $2.08 billion and a PE ratio of 20.35.

Hedge Funds Weigh In On Grupo Aeromexico

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Grupo Aeromexico in the 4th quarter valued at about $232,000. Sandia Investment Management LP acquired a new position in shares of Grupo Aeromexico in the 4th quarter valued at about $220,000. Federated Hermes Inc. acquired a new position in shares of Grupo Aeromexico in the 4th quarter valued at about $220,000. Mariner Investment Group LLC purchased a new position in shares of Grupo Aeromexico in the 4th quarter valued at about $3,717,000. Finally, Element Capital Management LLC purchased a new position in shares of Grupo Aeromexico in the 4th quarter valued at about $798,000.

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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