Grupo Aeromexico initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Grupo Aeromexico (AERO) with an Overweight rating and $28.50 price target The firm sees an attractive valuation at current share levels, saying the sector could benefit from a potential re-rating. Aeromexico has a unique position as Mexico’s only full-service carrier, leveraging its Mexico City hub and a higher contribution from premium revenues relative to peers, the analyst tells investors in a research note.