Goldman Sachs upgraded Latam Airlines (LTM) to Buy from Neutral with a price target of $63.40, down from $64.10, after assuming coverage of the name. The company has a “solid” financial position of the company currently and its higher income positioning in Latin America should allow it to withstand the current macroeconomic volatility, the analyst tells investors in a research note. Goldman believes Latam will pass through higher fuel prices to tickets with potentially lower impact to demand relative to peers.
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