LATAM Airlines Group Raising Estimates Post 1Q

Goldman Sachs maintains a Buy rating on LATAM Airlines Group, raising its price targets to USD 72.60 (LTM) and CLP 32.00 (LTM.SN) following strong 1Q results.

Key Takeaways

• 1.Goldman Sachs is raising estimates for LATAM Airlines to account for 1Q results, updated company guidance, and a revised macroeconomic outlook.
• 2.Profitability recovery is expected to accelerate, with the company likely reaching pre-conflict levels by 4Q26.
• 3.Price targets for LTM (US) and LTM.SN (Chile) have been raised to USD 72.60 and CLP 32.00, respectively, maintaining a Buy rating.

Table of Contents

• Thesis in charts
• Change to estimates
• Valuation and Key risks
• Disclosure Appendix

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