Morgan Stanley Ups PT On CPA To $80

Morgan Stanley is raising its price target on Copa Holdings CPA from $67 to $80 as the company looks to growth in the future. Says Morgan Stanley, in the report, “Visibility on higher growth and profits extend into 2012, resulting in our higher price target and above consensus estimates. In short, Copa has been executing ahead of expectations. Discussions with management and Copa's investor day earlier this week increase our confidence for both this year and next. Our estimates are 16% above the Street for 2012, as we see continued strong traffic growth (20% in 2011, up from 16%) with steady unit revenue.” Morgan Stanley maintains an Overweight rating on the stock. CPA closed yesterday at $62.22.