Citi upgraded Latam Airlines (LTM) to Buy from Neutral with a price target of $58, up from $53. While oil prices remain volatile, the “initial shock” is priced into Latin America airline shares, the analyst tells investors in a research note. Citi says the carriers are better positioned than in 2022 to face higher priecs. Latam looks the least exposed, followed by Copa, contends the firm. Citi upgrades Latam on the stock’s year-to-date and the company’s recovery potential from higher oil prices.
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