Copa Holdings (CPA) PT Lowered to $120 at Morgan Stanley

Morgan Stanley analyst Jens Spiess lowered the price target on Copa Holdings (NYSE: CPA) to $120.00 (from $130.00) while maintaining a Overweight rating.

The analyst comments "We are updating our estimates following 3Q24 results. We are also taking the opportunity to (i) mark to market our jet fuel assumptions, (ii) slightly decrease our capacity growth for 2024 to incorporate pre-reported data and (iii) slightly decrease our RASM assumptions for 2024 to factor in the company's latest guidance."

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