Deutsche Bank Downgrades Copa Holdings (CPA) to Sell

Deutsche Bank downgraded Copa Holdings (NYSE: CPA) from Hold to Sell with a price target of $49.00 (from $55.00).

Analyst Michael Linenberg said, "While all of our Latam airline stocks have appreciated year to-date as emerging market indices have traded up (e.g. the Brazilian Bovespa and Mexican Bolsa are up 24% and 7% year-to-date in local currency terms, respectively), we continue to favor the Mexican carriers given the strength of the domestic market. We continue to rank VLRS as our top pick given the successful execution of its ultra low cost carrier model (“ULCC”) across its growing network. Our order of preference is VLRS, AEROMEX, and AVH. We are lowering our rating on CPA from Hold to Sell due to our reduced earnings outlook for 2016 (EPS of $4.95 goes to $4.40."

For an analyst ratings summary and ratings history on Copa Holdings click here. For more ratings news on Copa Holdings click here.

Shares of Copa Holdings closed at $68.88 yesterday.

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