JPMorgan Chase & Co. Cuts Grupo Aeromexico (NYSE:AERO) Price Target to $28.00

Grupo Aeromexico (NYSE:AERO) had its price target cut by JPMorgan Chase & Co. from $28.50 to $28.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on AERO. Weiss Ratings initiated coverage on Grupo Aeromexico in a report on Tuesday, February 3rd. They issued a “hold (c)” rating for the company. Barclays boosted their price objective on Grupo Aeromexico from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. The Goldman Sachs Group began coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They set a “buy” rating and a $35.00 target price for the company. Wall Street Zen upgraded shares of Grupo Aeromexico from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Morgan Stanley assumed coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $30.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.43.

Grupo Aeromexico Stock Performance

Shares of Grupo Aeromexico stock opened at $13.39 on Thursday. The business’s fifty day simple moving average is $19.20. Grupo Aeromexico has a 12 month low of $12.85 and a 12 month high of $23.05.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AERO. Mariner Investment Group LLC acquired a new stake in shares of Grupo Aeromexico in the fourth quarter valued at about $3,717,000. Element Capital Management LLC acquired a new position in Grupo Aeromexico during the fourth quarter valued at approximately $798,000. 140 Summer Partners LP bought a new position in Grupo Aeromexico in the fourth quarter valued at approximately $28,513,000. Baupost Group LLC MA bought a new position in Grupo Aeromexico in the fourth quarter valued at approximately $106,620,000. Finally, Fourth Sail Capital LP acquired a new position in shares of Grupo Aeromexico during the 4th quarter worth approximately $24,156,000.

Grupo Aeromexico Company Profile

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.