UPDATE: Deutsche Bank Upgrades LATAM Airlines Group SA to Buy on Upcoming Catalysts
In a report published Thursday, Deutsche Bank analyst Michael Linenberg upgraded the rating on LATAM Airlines Group SA (NYST: LFL) from Hold to Buy, and raised the price target from $23.00 to $27.00.
In the report, Linenberg noted, “We are upgrading our rating on LATAM Airlines Group S.A. ADR shares from Hold to Buy as we see a number of upcoming catalysts that should lead to improved profitability: (1) an expected slowdown in LATAM's international capacity growth plan; (2) the anticipated approval of TAM's code share with American Airlines; and (3) a material pullback in jet fuel prices, which should result in a solid earnings tailwind and boost the company's liquidity profile, in our view. Moreover, we think the stock's recent underperformance creates an attractive entry point for investors; LFL is down 14% YTD vs. most major Chilean indices, which are flat to down 1% (in USD).”
LATAM Airlines Group SA closed on Wednesday at $20.28.
Latest Ratings for LFL
|Sep 2016||Raymond James||Upgrades||Underperform||Market Perform|
|Sep 2016||Morgan Stanley||Upgrades||Underweight||Equal-weight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.