JPMorgan analyst Guilherme Mendes initiated coverage of Latam Airlines U.S. shares with an Overweight rating and $70 price target. The firm prefers Latam over Copa within its Latin America airline coverage, citing the company's "superior earnings momentum and a lighter balance sheet." JPMorgan believes the airline space has room to continue to gradually re-rate, depending on geopolitical developments and a potential stabilization of fuel prices.
