LATAM Airlines Group (NYSE:LTM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of LATAM Airlines Group (NYSE:LTM) from a hold rating to a strong-buy rating in a report issued on Tuesday, December 26th. Zacks Investment Research currently has $16.00 target price on the transportation company’s stock.

According to Zacks, “LATAM Airlines Group S.A. offers domestic and international passenger and cargo air services. The Company operates primarily in Chile, the United States, the South Pacific, Europe and Latin America. LATAM Airlines Group S.A., formerly known as Lan Chile S.A, is headquartered in Santiago, Chile. “

Several other research analysts have also weighed in on LTM. Bank of America reiterated a neutral rating on shares of LATAM Airlines Group in a research report on Tuesday, October 24th. TheStreet upgraded LATAM Airlines Group from a d+ rating to a c rating in a research report on Thursday, November 16th. Finally, Santander lowered LATAM Airlines Group from a buy rating to a hold rating in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $12.67.

Shares of LATAM Airlines Group (LTM) opened at $16.11 on Tuesday. LATAM Airlines Group has a fifty-two week low of $8.95 and a fifty-two week high of $16.17. The company has a market capitalization of $9,580.00, a P/E ratio of 67.13, a P/E/G ratio of 0.58 and a beta of 1.55.

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in LATAM Airlines Group by 37.9% in the second quarter. Renaissance Technologies LLC now owns 2,448,995 shares of the transportation company’s stock valued at $27,110,000 after purchasing an additional 673,500 shares during the period. Commonwealth Equity Services Inc purchased a new position in LATAM Airlines Group in the third quarter valued at $288,000. Nordea Investment Management AB boosted its holdings in LATAM Airlines Group by 165.7% in the third quarter. Nordea Investment Management AB now owns 108,458 shares of the transportation company’s stock valued at $1,437,000 after purchasing an additional 67,639 shares during the period. Dorsey Wright & Associates boosted its holdings in LATAM Airlines Group by 55.7% in the second quarter. Dorsey Wright & Associates now owns 281,312 shares of the transportation company’s stock valued at $1,434,000 after purchasing an additional 100,598 shares during the period. Finally, Timber Hill LLC purchased a new position in LATAM Airlines Group in the third quarter valued at $260,000. Hedge funds and other institutional investors own 3.10% of the company’s stock.

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LATAM Airlines Group Company Profile

LATAM Airlines Group SA is a Chile-based company, which is engaged in passenger and cargo air transportation, both in the domestic markets of Chile, Peru, Argentina, Colombia, Ecuador and Brazil and in a developed series of regional and international routes in America, Europe and Oceania. These businesses are performed directly or through its subsidiaries in different countries.

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Analyst Recommendations for LATAM Airlines Group (NYSE:LTM)

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