Analysts at Citigroup Inc. upgraded shares of LATAM Airlines Group SA (NYSE: LFL) from to Market Perform today. The company currently has a rating of Market Perform on the stock. The one-year price target of $8.95 is above the opening price of $8.04, that has caused a fair amount of other analysts to comment on the company recently. Looking back over the last 52 weeks, LATAM Airlines Group SA stock has a high of $9.24. Stock prices often shift to the upside on recommendations and new price targets of professional analysts.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of LATAM Airlines Group SA (NYSE: LFL) opened at $8.04 yesterday trading between $7.99 and $8.27, and last traded at $8.26, which represents a spike of $0.52 over the previous closing price.
LATAM Airlines Group SA (NYSE: LFL) now has a market cap of 4.51B.
The stock’s average daily volume is 674,741 shares out of a total float 328,305,000 and some 534,520 shares crossed the trading desk yesterday, below the norm. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to pinpoint substantial volume aggregation or dissemination by institutional investors.
While an increase in trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Traders can make more impactful choices on trades when they follow the trading habits of professional investors.
With that in mind, LATAM Airlines Group SA (NYSE: LFL) now has a 50-day MA of $8.31 and 200-day MA of $7.29. It has traded in a 52-week range between $4.35 – 9.24 and today’s last price is 0.11% lower than the 52 week high of $9.24.
Earnings growth is a crucial factor to consider when investing in stocks and investors seek companies that have increased their earnings by at least 25% for the past 3 years.
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