Grupo Aeromexico (NYSE:AERO) Sets New 12-Month High – Here’s Why

Grupo Aeromexico (NYSE:AERO) shares hit a new 52-week high on Thursday . The company traded as high as $22.26 and last traded at $22.18, with a volume of 92599 shares trading hands. The stock had previously closed at $20.91.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Grupo Aeromexico to a “hold” rating in a research report on Saturday, November 15th. Barclays started coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They set a “buy” rating and a $25.00 price target for the company. Evercore ISI assumed coverage on Grupo Aeromexico in a research report on Wednesday, December 17th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on Grupo Aeromexico in a report on Wednesday, December 17th. They set an “overweight” rating and a $30.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Grupo Aeromexico Trading Up 6.1%

Grupo Aeromexico Company Profile

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.