Raymond James Upgrades LATAM Airlines Group SA (ADR) to Market Perform

Brokerage firm Raymond James Upgrades its rating on LATAM Airlines Group SA (ADR)(NYSE:LFL). The shares have been rated Market Perform. Previously, the analysts had a Underperform rating on the shares. The rating by Raymond James was issued on Sep 21, 2016.

In a different note, On Sep 8, 2016, Morgan Stanley said it Upgrades its rating on LATAM Airlines Group SA (ADR). In the research note, the firm Raises the price-target to $6.50 per share. The shares have been rated ‘Equal-weight’ by the firm. On Aug 1, 2016, Citigroup said it Downgrades its rating on LATAM Airlines Group SA (ADR). The shares have been rated ‘Neutral’ by the firm. On Jul 20, 2016, Deutsche Bank said it Upgrades its rating on LATAM Airlines Group SA (ADR). The shares have been rated ‘Buy’ by the firm. On Jul 11, 2016, Bank of America said it Upgrades its rating on LATAM Airlines Group SA (ADR). The shares have been rated ‘Neutral’ by the firm. On Jul 5, 2016, UBS said it Downgrades its rating on LATAM Airlines Group SA (ADR). The shares have been rated ‘Sell’ by the firm.

LATAM Airlines Group SA (ADR) (LFL) made into the market gainers list on Tuesdays trading session with the shares advancing 1.04% or 0.08 points. Due to strong positive momentum, the stock ended at $7.74, which is also near the day’s high of $7.84. The stock began the session at $7.74 and the volume stood at 2,46,980 shares. The 52-week high of the shares is $9.24 and the 52 week low is $4.3489. The company has a current market capitalization of $4,223 M and it has 54,55,47,820 shares in outstanding.

LATAM Airlines Group SA (ADR)(LFL) last announced its earnings results on Aug 11, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.11B. Analysts had an estimated revenue of $2.17B. Earnings per share were $-0.17. Analysts had estimated an EPS of $-0.12.

LATAM Airlines Group S.A. (LATAM) is a Chile-based airline holding company. The Company is primarily involved in the transportation of passengers and cargo and operates as a business enterprise with two brands: LAN and TAM. LATAM operates through two segments: the air transportation business and the coalition and loyalty program Multiplus. The Company’s Air transport segment corresponds to the route network for air transport. LATAM’s segment of loyalty coalition called Multiplus is a frequent flyer program. LATAM provides passenger transport services to approximately 135 destinations in 22 countries and cargo services to approximately 144 destinations in 26 countries with a fleet of 327 aircraft and a set of bilateral alliances. The LAN brand includes LAN Chile LAN Peru LAN Argentina LAN Colombia LAN Ecuador and LAN Cargo. The TAM brand includes other brands services and business units such as TAM Airlines TAM Cargo TAM Viagens TAM Fidelidade and TAM nas Nuvens.

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