Bank of America Merrill Lynch Ups Copa Holdings PT, Reiterates Buy
Bank of America Merrill Lynch raised its Copa Holdings (NYSE: CPA) price target from $85 to $90 and reiterated the company's Buy rating in a research report published Friday.
In the report, Bank of America Merrill Lynch stated, "Most of our revision derives from a lower fuel price estimate for 2012 (BofAML estimates flat fuel prices in 2012 versus a previous estimate of 6% increase YoY). We continue to see CPA as a premium vehicle to play the growing airline sector in LatAm and reiterate our Buy on the stock."
Shares of Copa Holdings closed Friday at $80.33, down 0.53 percent from Thursday's market close.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.