Copa 's stock could rally as air travel continues to rebound and industry-wide headwinds ease, according to JPMorgan. Analyst Guilherme Mendes upgraded the Latin American airline's stock to overweight from neutral. His price target of $132 presents an upside of 50.2% over where the stock closed Thursday. Mendes said Copa is attractive given its financials, specifically its debt-to-EBITDA ratio and liquidity.
" The stock gained more than 1% in Friday trading. It eked out a 0.6% advance in 2022 despite the broader market's tumble. To be sure, Mendes noted factors like increased competition, weaker air travel recover than expected and re-elevated fuel prices could impact the stock's performance. Within the broader air travel sector, the analyst pointed to capacity increases and a 30% drop in jet fuel prices since October as evidence of an improving environment.
Source: News Formal (newsformal.com)
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