UPDATE: Cowen Securities Raises PT on Copa Holdings Following Great 1Q13 Results

In a report published Tuesday, Cowen Securities analyst Helane Becker reiterated a Buy rating on Copa Holdings

, and raised the price target from $115.00 to $155.00. In the report, Becker noted, “We are reiterating our Buy rating on Copa Holdings and are increasing our price target to $155 from $115. We believe Copa can trade at 15x our 2013 and 14x our 2014 EPS estimates. Copa remains one of the best positioned airlines in the Americas, with one of the most attractive locations to reach South and North America. Copa's balance sheet remains strong with total cash as a percentage of LTM revenues of 29%, amongst the highest in the airline industry.” Copa Holdings closed on Monday at $125.00.