In a report released today, Helane Becker from TD Cowen maintained a Buy rating on Copa Holdings (CPA – Research Report), with a price target of $135.00.
Helane Becker’s Buy rating on Copa Holdings is influenced by a range of factors. Firstly, Copa’s 3Q23 adjusted EPS surpassed both Becker’s and the Street’s estimates by 9.5% and 15.7%, respectively, demonstrating a strong financial performance. Furthermore, the revenue outperformed her expectations, largely driven by a smaller-than-anticipated drop in yields. Copa’s completion of its share repurchase program and the Board’s approval of a new $200 million initiative further strengthens the company’s financial standing.
Moreover, Becker maintains an Outperform rating on Copa’s common shares, suggesting a strong belief in the company’s potential for future growth. She predicts the shares could reach a price of $135, representing a 5.0x estimated 2024 EV/EBITDAR. Becker’s conservative forecast for the new share repurchase program, expected to be executed in equal parts over the next two years, also contributes to her positive outlook. Finally, she notes Copa’s advantageous position in Panama, where it operates a Hub of the Americas, connecting passenger traffic between North and South America, which could further bolster its prospects.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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.
Read More on CPA:
