Copa Holdings price target raised to $167 from $165 at Seaport Research

Seaport Research analyst Daniel McKenzie raised the firm’s price target on Copa Holdings to $167 from $165 and keeps a Buy rating on the shares. The company reported Q4 results that “blew away” the Street for the sixth quarter in a row and guided to a 2024 outlook that implies upside to consensus, the analyst tells investors in a research note. The firm says Copa’s current valuation multiple is likely a function of elevated geopolitical risk, but if the stock were to ever trade at a historical multiple, shares would fetch over $200.