Zacks Investment Research upgraded shares of LATAM Airlines Group (NYSE:LTM) from a hold rating to a strong-buy rating in a research note released on Tuesday morning. The brokerage 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. “
LTM has been the subject of a number of other research reports. TheStreet raised LATAM Airlines Group from a d+ rating to a c rating in a research report on Thursday, November 16th. Bank of America reaffirmed a neutral rating on shares of LATAM Airlines Group in a research report on Tuesday, October 24th. Finally, Santander downgraded LATAM Airlines Group from a buy rating to a hold rating in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company. LATAM Airlines Group currently has a consensus rating of Hold and a consensus price target of $12.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LTM. FNY Partners Fund LP bought a new stake in LATAM Airlines Group in the 3rd quarter valued at $139,000. SG Americas Securities LLC raised its stake in LATAM Airlines Group by 6.6% in the 2nd quarter. SG Americas Securities LLC now owns 13,122 shares of the transportation company’s stock valued at $145,000 after acquiring an additional 809 shares during the period. First Trust Advisors LP bought a new stake in LATAM Airlines Group in the 3rd quarter valued at $209,000. Stevens Capital Management LP bought a new stake in LATAM Airlines Group in the 2nd quarter valued at $260,000. Finally, Timber Hill LLC bought a new stake in LATAM Airlines Group in the 3rd quarter valued at $260,000. 3.10% of the stock is owned by institutional investors.
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About LATAM Airlines Group
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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