Copa Holdings price target raised to $135 from $115 at TD Cowen

TD Cowen raised the firm’s price target on Copa Holdings to $135 from $115 and keeps an Outperform rating on the shares. The firm said Copa had a big beat on 3Q23 results, issued good guidance and are returning a lot of capital to shareholders. They will likely pay over $6/share in dividends next year while closing and Cowen seez upside to their EPS estimates if management completes the current share repurchase program faster than forecast.