Deutsche Bank Upgrades Copa Holdings (CPA) to Buy
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Deutsche Bank upgraded Copa Holdings (NYSE: CPA) from Hold to Buy with a price target of $105.
Analyst Michael Linenberg said, "We are raising our rating on CPA shares from Hold to Buy and our 12 month price target (to $105 from $90) on a better earnings outlook (2017 EPS forecast of $8.05 vs. $7.50 previously, which was already well above consensus of $6.46). Copa tightened its 2016 operating margin guidance to the better end of the previous range (now guiding to 12% - 13% vs. 11% - 13% previously) and introduced preliminary 2017 operating margin guidance of 15% - 17%. Our new 2017 EPS estimate of $8.05 is driven by a 16.5% operating margin and we estimate consensus of $6.46 is driven by a ~14.5% operating margin."
Shares of Copa Holdings closed at $91.56 yesterday.
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