Morgan Stanley analyst Jens Spiess upgraded Latam Airlines (LTM) to Overweight from Equal Weight with a price target of $60, down from $61. The firm sees 22% share upside following the stock’s recent underperformance amid higher fuel prices. The company is well positioned to handle the oil price volatility given its “top-tier profitability, comfortable leverage and partial fuel hedges,” the analyst tells investors in a research note.
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