Copa Holdings price target raised to $168 from $165 at Raymond James

Raymond James raised the firm’s price target on Copa Holdings to $168 from $165 and keeps a Strong Buy rating on the shares. Copa’s strong Q1 results and industry-high 21%-23% 2024 EBIT margin guidance are likely the result of structural strengths it has built over the years as well as since the pandemic, the analyst tells investors in a research note. The firm believes the current earnings trajectory is sustainable and creates the opportunity for attractive cash returns.