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In a report published Wednesday, Morgan Stanley analyst Ricardo L. Alves reiterated an Underweight rating on
LATAM Airlines Group SA (ADR)LFL, but lowered the price target from $11.30 to $10.30.
In the report, Morgan Stanley noted, "LFL 4Q14's EBIT margin of 8.6% beat MSe of 7.4%, and the stock could react positively in the ST. However, competition and weaker currencies pressured yields, and thus consolidated PRASK declined 13% y-y. Despite a better quarter, we believe the negative unit revenue trend will remain and we stay UW."
LATAM Airlines Group SA (ADR) closed on Tuesday at $8.31.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAirlinesIndustrialsMorgan StanleyRicardo L. Alves
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