In a report released yesterday, Jens Spiess from Morgan Stanley maintained a Buy rating on Copa Holdings (CPA – Research Report), with a price target of $120.00.
Jens Spiess has given his Buy rating due to a combination of factors that highlight Copa Holdings’ strong performance metrics. The company’s total traffic, measured in revenue passenger miles (RPM), saw a significant year-over-year increase of 5.2% in March, while capacity also rose by 5.5%, resulting in a robust load factor of 86.3%. This growth is indicative of Copa’s ability to efficiently manage its capacity and maintain high occupancy rates.
Furthermore, Copa’s first-quarter traffic surged by 10.1% year-over-year, surpassing both the consensus estimate of 8.2% and Morgan Stanley’s estimate of 8.4%. The total capacity for the quarter also increased by 9.6%, which was above Morgan Stanley’s forecast. These positive trends suggest that Copa Holdings is well-positioned to capitalize on market opportunities, justifying the Buy rating from Jens Spiess.