Latam Airlines reinstated with a Buy at Goldman Sachs

Goldman Sachs reinstated coverage of Latam Airlines with a Buy rating and $41.70 price target The firm believes LATAM offers a good combination of EBITDA growth in the coming years, a solid balance sheet following its Chapter 11 process, and undemanding valuation at ~3.8x 2025E EV/EBITDA, which leads the analyst to believe “the market is not necessarily pricing in the strong level of margins we currently expect the company to deliver over the next few years.”