The company also reported decent numbers in the third quarter with EPADS of $1.14, much above the Zacks Consensus Estimate of $0.45. Moreover, the recovery in market conditions and particularly the emerging economies like Latin America including a fall in fuel price compared with 2008 level is encouraging.
The International Air Transport Association (IATA) expects the airline industry to make a profit of $9.1 billion in 2011. Our target price of $28.00 is derived from the P/E ratio of 24.8x 2011 EPS.
TAM SA-ADR (TAM): Free Stock Analysis Report
Zacks Investment Research
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