Grupo Aeromexico (NYSE:AERO) Hits New 52-Week High – Still a Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Grupo Aeromexico to a “hold” rating in a research report on Saturday, November 15th. Barclays initiated coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They set an “overweight” rating and a $27.00 price objective for the company. Morgan Stanley assumed coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $30.00 target price on the stock. The Goldman Sachs Group began coverage on Grupo Aeromexico in a report on Wednesday, December 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Itau BBA Securities assumed coverage on Grupo Aeromexico in a report on Sunday, November 30th. They issued an “outperform” rating for the company. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Grupo Aeromexico Price Performance

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.