Latam Airlines initiated with an Overweight at Barclays

Barclays initiated coverage of Latam Airlines with an Overweight rating and $34 price target. After a “transformational” restructuring process, Latam is well positioned to profit from a supportive market environment, the analyst tells investors in a research note. The firm says the company’s “extensive” network, “lean” cost structure, and “strong” balance sheet should drive sustainable results.