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In a report published Tuesday, J.P. Morgan analyst Fernando Abdalla assumed coverage on Copa Holdings SA
CPA, upgraded the rating from Neutral to Overweight, and raised the price target from $100.00 to $137.00.
In the report, Abdalla noted, “Copa remains one of the best stories out there, in our view. We've consistently applauded Copa on the strength of its management, the benefits of its Panama City hub, and the relative paucity of high-quality competitors. Its dependence on thin, connecting markets greatly reduces the likelihood that point-to-point discounters could ever bypass the Panama City hub with non-stops. Connections are virtually mandatory when traversing Central and South America, and Panama City affords the most geographically logical point for most travelers.”
Copa Holdings SA closed on Monday at $120.00.
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