This reportcontains the description of a valuation performed on LATAM Airlines, the largest airline in South America. This study was conducted by analysing the factors that may affect the company’s value (both macroeconomic, industry, and company-specific factors), whilst also performing a series of scenario analyses, given the uncertain times which characterize the present. An estimated share price (the target value for the 31stof December of 2020) was then computed, which prompts us to recommend investors to sell their positions on LATAM Airlines
