Copa Holdings In Line With JP Morgan Estimates

Copa Holdings, S.A. CPA reported 2Q results in-line with JP Morgan's forecast, reporting profit of $0.60 mirrored to JPM's estimate of $0.60. RASM guidance for Copa Holdings was reduced to $0.127 from $0.131, affected somewhat by lower 2010 fuel costs per gallon being lowered from $2.41 to $2.35. Under this new guidance, JPM's 2010 EPS is reduced to $4.77 from $5.22. JP Morgan remains "neutral" on Copa Holdings and maintains its price target of $62. Copa Holdings, S.A. closed yesterday at $52.60.