JPMorgan Chase & Co. Issues Pessimistic Forecast for Grupo Aeromexico (NYSE:AERO) Stock Price

Grupo Aeromexico (NYSE:AERO) had its price target dropped by research analysts at JPMorgan Chase & Co. from $28.50 to $28.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 109.16% from the stock’s previous close.

Several other research firms have also weighed in on AERO. The Goldman Sachs Group started coverage on shares of Grupo Aeromexico in a report on Wednesday, December 17th. They set a “buy” rating and a $35.00 target price on the stock. Zacks Research upgraded Grupo Aeromexico to a “hold” rating in a report on Thursday, December 18th. Barclays boosted their price objective on Grupo Aeromexico from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Weiss Ratings started coverage on Grupo Aeromexico in a research report on Tuesday, February 3rd. They set a “hold (c)” rating on the stock. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.43.

Grupo Aeromexico Trading Down 2.7%

Shares of NYSE:AERO opened at $13.39 on Thursday. The stock has a 50-day simple moving average of $19.20. Grupo Aeromexico has a 12-month low of $12.85 and a 12-month high of $23.05.

Hedge Funds Weigh In On Grupo Aeromexico

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new position in shares of Grupo Aeromexico in the fourth quarter valued at $220,000. Sandia Investment Management LP acquired a new stake in shares of Grupo Aeromexico during the 4th quarter valued at about $220,000. Quarry LP bought a new stake in Grupo Aeromexico in the fourth quarter valued at about $232,000. VR Advisory Services Ltd acquired a new position in Grupo Aeromexico in the fourth quarter worth about $259,000. Finally, HRT Financial LP acquired a new position in Grupo Aeromexico in the fourth quarter worth about $295,000.

About Grupo Aeromexico

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.