Copa Holdings price target raised to $165 from $150 at Evercore ISI

Evercore ISI raised the firm’s price target on Copa Holdings to $165 from $150 and keeps an Outperform rating on the shares. Copa Holdings delivered earnings upside and strong margins despite a significant headwind from the MAX-9 grounding in January, the analyst tells investors in a research note. Not raising operating margin guidance is not surprising and the firm interprets this as conservatism.