Grupo Aeromexico (NYSE:AERO) Reaches New 1-Year High – Still a Buy?

Grupo Aeromexico (NYSE:AERO) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.00 and last traded at $20.86, with a volume of 493687 shares. The stock had previously closed at $19.15.

Wall Street Analysts Forecast Growth

AERO has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Grupo Aeromexico in a research report on Wednesday. They set a “buy” rating and a $35.00 price objective for the company. Itau BBA Securities started coverage on Grupo Aeromexico in a report on Sunday, November 30th. They issued an “outperform” rating for the company. Citigroup started coverage on shares of Grupo Aeromexico in a research note on Wednesday. They set a “buy” rating and a $27.00 target price for the company. Wall Street Zen upgraded shares of Grupo Aeromexico to a “hold” rating in a report on Saturday, November 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Grupo Aeromexico in a research note on Wednesday. They set a “buy” rating and a $25.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Grupo Aeromexico currently has a consensus rating of “Buy” and an average price target of $30.00.

Grupo Aeromexico Stock 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.