Raymond James Cuts Copa's Price Target By 4%

  • Raymond James analyst Savanthi Syth lowered the price target on Copa Holdings CPA to $110 (an upside of 42%) from $115 while maintaining the Strong Buy rating on the shares.
  • Copa is a Panamanian holding company consisting of Copa Airlines and Copa Colombia.
  • The analyst revised the forecast to reflect higher fuel price forecasts, particularly considerable refining margin expansion in the recent three weeks.
  • Syth continues to believe that "Copa's improved CASM-ex (vs. pre-crisis) reaffirms a structural cost advantage, which along with its robust balance sheet and advantaged hub serves as a formidable defensive moat."
  • The analyst states that Copa is amongst the most well-managed airlines globally, with a competitive cost structure and strong balance sheet.
  • Syth adds that Copa has the financial wherewithal to withstand the current crisis, particularly compared to its Latin American competitors, and is likely to gain market share in a recovery.
  • Price Action: CPA shares are trading higher by 1.8% at $77.37 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsPrice TargetReiterationAnalyst RatingsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!