VLRS - Volaris is a top airline stock pick at JPMorgan

JPMorgan initiated coverage on Controladora Vuela Compañía de Aviación (NYSE:VLRS) with an Overweight rating. Volaris (VLRS) is a top pick at the firm based on a competitive cost per available seat mile position given the carrier's low cost model. VLRS is also called well positioned in the Mexican market with an appropriate fleet to support future growth. The solid financial discipline of the airline company is also called out and its strong potential for air travel expansion in Mexico. "We find interesting upside potential in the name, as it trades at at what we view as an undeserved discount to its LatAm peers." JPMorgan assigned a price target of $23 to VLRS to rep more than 50% upside potential for the stock. Shares of Volaris (VLRS) rose 0.67% premarket to $14.90 vs. the 52-week trading range of $12.44 to $23.58.

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Volaris is a top airline stock pick at JPMorgan