Copa Holdings price target lowered to $160 from $180 at BofA

BofA analyst Rogerio Araujo lowered the firm’s price target on Copa Holdings to $160 from $180 and keeps a Buy rating on the shares. The analyst says Copa’s main competitor Avianca accelerated international capacity expansion in June while Delta Airlines published Q2 results with yields still pressured in Latin America. The firm believes Copa’s margin strength is likely to ease but keeps a Buy rating on the shares due to valuation.