LATAM Airlines Group S.A. (NYSE:LTM) is one of the best airline stocks to buy according to Reddit.
Goldman Sachs lifted the price target on LATAM Airlines Group S.A. (NYSE:LTM) to $72.60 from $63.40 on May 12, reaffirming a Buy rating on the shares
The company announced financial results for the first quarter of the year on May 5, reporting an adjusted operating margin of 19.8% and net income of US$576 million. Management attributed the results to the company’s business model, further complemented by a diversified revenue base, robust loyalty program, and extensive network. LATAM Airlines Group S.A. (NYSE:LTM) further reported that the company increased its capacity by 10.4% in the quarter, transporting 22.9 million passengers, a 9.1% increase compared to the prior year period.
This growth was attributed to the performance of the domestic market of LATAM Airlines Brazil and the international segment. Furthermore, adjusted EBITDA for the quarter reached US$1.3 billion, and the company generated US$391 million in cash, maintaining total liquidity above US$4.1 billion, or 27% of revenues over the last twelve months. LATAM Airlines Group S.A. (NYSE:LTM) provides passenger air transportation and cargo services.