TAM S.A. Coverage Initiated at Morgan Stanley (TAM)
Investment analysts at Morgan Stanley began coverage on shares of TAM S.A. (NYSE:TAM) in a note issued to investors on Wednesday, Analyst Ratings Network.com reports. The firm set an “equal weight” rating on the stock.
The analysts wrote, “Taminco’s growth profile and strong position in an attractive industry should appeal to many investors. Risks appear balanced, and we believe valuation is fair, despite outperformance since the IPO. Initiating coverage at Equal-weight with a $23 base case.”
Shares of TAM S.A. (NYSE:TAM) traded up 0.20% during mid-day trading on Wednesday, hitting $20.03. 3,536 shares of the company’s stock traded hands. TAM S.A. has a one year low of $13.75 and a one year high of $23.30. The stock has a 50-day moving average of $21.03 and a 200-day moving average of $19.19. The company has a market cap of $1.330 billion and a P/E ratio of 444.22.
TAM has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of TAM S.A. in a research note to investors on Thursday, August 15th. They now have a $23.00 price target on the stock, up previously from $22.00. Analysts at UBS AG downgraded shares of TAM S.A. from a “buy” rating to a “neutral” rating in a research note to investors on Friday, August 2nd. They now have a $24.00 price target on the stock, up previously from $21.00.
Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.75.
TAM SA (NYSE:TAM) is a Brazil-based company engaged in providing scheduled air transportation in both the domestic and the international markets through the Company’s operating subsidiaries, TAM Linhas Aereas SA (TAM Linhas Aereas), Transportes Aereos Del Mercosur SA (TAM Mercosur) and Pantanal Linhas Aereas SA The Company offers flights throughout Brazil.
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