Published On: Sat, Sep 10th, 2016

LATAM Airlines Group SA (LFL) Rating Increased to Hold at Zacks Investment Research

LATAM Airlines Group SA (NYSE:LFL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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 brokerages have also recently weighed in on LFL. Goldman Sachs Group Inc. cut shares of LATAM Airlines Group SA from a “neutral” rating to a “sell” rating and reduced their target price for the company from $6.70 to $5.80 in a report on Tuesday, June 14th. Citigroup Inc. cut shares of LATAM Airlines Group SA from a “buy” rating to a “neutral” rating in a report on Monday, August 1st. Bank of America Corp. raised shares of LATAM Airlines Group SA from an “underperform” rating to a “neutral” rating in a report on Monday, July 11th. Morgan Stanley raised shares of LATAM Airlines Group SA from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $6.50 to $8.80 in a report on Thursday. Finally, Deutsche Bank AG raised shares of LATAM Airlines Group SA from a “hold” rating to a “buy” rating and raised their target price for the company from $7.00 to $11.00 in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. LATAM Airlines Group SA has an average rating of “Hold” and a consensus target price of $8.65.

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LATAM Airlines Group SA (NYSE:LFL) opened at 7.94 on Friday. The company has a 50 day moving average of $8.50 and a 200 day moving average of $7.17. LATAM Airlines Group SA has a 1-year low of $4.35 and a 1-year high of $9.24. The firm’s market capitalization is $4.33 billion.
Several institutional investors have made changes to their positions in the company. BlackRock Group LTD raised its position in shares of LATAM Airlines Group SA by 7.0% in the first quarter. BlackRock Group LTD now owns 1,371,710 shares of the company’s stock worth $9,601,000 after buying an additional 89,988 shares during the period. State Street Corp raised its position in shares of LATAM Airlines Group SA by 4.9% in the first quarter. State Street Corp now owns 1,005,684 shares of the company’s stock worth $7,040,000 after buying an additional 46,940 shares during the period. BlackRock Fund Advisors raised its position in shares of LATAM Airlines Group SA by 4.1% in the first quarter. BlackRock Fund Advisors now owns 719,385 shares of the company’s stock worth $5,036,000 after buying an additional 28,409 shares during the period. Acadian Asset Management LLC raised its position in shares of LATAM Airlines Group SA by 69.7% in the second quarter. Acadian Asset Management LLC now owns 606,047 shares of the company’s stock worth $4,001,000 after buying an additional 248,830 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of LATAM Airlines Group SA during the first quarter worth about $3,604,000. Institutional investors and hedge funds own 3.27% of the company’s stock.
About LATAM Airlines Group SA
LATAM Airlines Group SA is a Chile-based air transport company. The Company’s principal business is 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.

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