Thomas Fitzgerald CFA, an analyst from TD Cowen, maintained the Buy rating on Copa Holdings (CPA – Research Report). The associated price target remains the same with $130.00.
Thomas Fitzgerald CFA has given his Buy rating due to a combination of factors influencing Copa Holdings. Despite a slight miss in revenue compared to estimates, the company’s cost management strategies resulted in an EBIT margin that aligned closely with expectations, demonstrating resilience in its operations. Management maintained their guidance for 2024 capacity growth and operating margin, indicating confidence in their operational strategy despite external challenges such as currency weaknesses and competitive pressures.
Looking ahead, Copa Holdings is poised for capacity growth between 7% and 9% in 2025, with a focus on controlling non-fuel costs. The company is also adjusting its fleet strategy by receiving new aircraft and postponing the retirement of older models, which suggests a strategic approach to managing capacity and cost efficiency. These factors, along with the expectation of easing competitive pressures and capacity reallocation, support a positive outlook, justifying the Buy rating by Thomas Fitzgerald CFA.
In another report released on November 22, Evercore ISI also reiterated a Buy rating on the stock with a $150.00 price target.
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Copa Holdings (CPA) Company Description:
Copa Holdings SA engages in provision of air transportation. It involves in an airline operation which provides passenger and cargo services through the Copa Airlines and Copa Colombia principal operating subsidiaries. The company offers international flights to Costa Rica, Jamaica, Colombia and other cities. Copa Holdings was founded in 1947 and is headquartered in Panama.
