LATAM Airlines Group (NYSE:LTM) Stock Rating Upgraded by The Goldman Sachs Group

Key Points

• The Goldman Sachs Group upgraded LATAM Airlines (NYSE:LTM) from "neutral" to "buy" and set a $63.40 price target, implying roughly a 19.43% upside from the prior close.
• Analyst sentiment is broadly positive with four Buy and two Hold ratings, a MarketBeat consensus of "Moderate Buy" and an average target price of $62.10; recent notable moves include upgrades from Morgan Stanley and Citigroup and a lowered target from Barclays.
• LATAM recently beat quarterly estimates with $1.69 EPS versus $1.35 expected and $3.95B in revenue; the airline trades with a $16.04B market cap, a P/E of 10.66, and a 12‑month range of $27.76–$70.42.

LATAM Airlines Group (NYSE:LTM - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report released on Monday,Finviz reports. The brokerage presently has a $63.40 price target on the transportation company's stock. The Goldman Sachs Group's price target indicates a potential upside of 19.43% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of LATAM Airlines Group from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $61.00 to $60.00 in a research report on Thursday, March 26th. Citigroup raised shares of LATAM Airlines Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $53.00 to $58.00 in a report on Tuesday, March 17th. Zacks Research cut shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Finally, Barclays reduced their target price on shares of LATAM Airlines Group from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Tuesday, March 24th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $62.10.

LATAM Airlines Group Stock Down 0.2%

Shares of LATAM Airlines Group stock opened at $53.09 on Monday. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.42 and a beta of 3.93. The company's 50 day moving average is $54.12 and its 200 day moving average is $51.65. LATAM Airlines Group has a twelve month low of $27.76 and a twelve month high of $70.42.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.34. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. Sell-side analysts expect that LATAM Airlines Group will post 3.37 EPS for the current fiscal year.

Institutional Trading of LATAM Airlines Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company's stock valued at $40,000 after buying an additional 246 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of LATAM Airlines Group in the fourth quarter worth $78,000. Tower Research Capital LLC TRC purchased a new stake in shares of LATAM Airlines Group in the second quarter worth $90,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LATAM Airlines Group by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company's stock worth $129,000 after purchasing an additional 391 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of LATAM Airlines Group by 340.2% in the fourth quarter. Royal Bank of Canada now owns 2,672 shares of the transportation company's stock worth $144,000 after purchasing an additional 2,065 shares in the last quarter.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.

The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.

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