Citi Affirms ‘Buy’ Rating on Copa Holdings (CPA) on Strong Growth Metrics

Copa Holdings, S.A. (NYSE:CPA) is one of the best airline stocks to buy according to hedge funds. On July 15, Citi analysts reiterated a ‘Buy’ rating on the stock and a $159 price target. The bullish stance comes amid expectations that the company capitalized on substantial traffic in June.

Copa Holdings has already confirmed that its June system-wide passenger traffic, measured in revenue passenger miles, was up 6.3% year-over-year. Likewise, capacity measured in available seat miles was up 5.3%. In return, the airline’s load factor increased 0.8 points to 87.5% affirming strong demand growth.

Citi has reaffirmed that Copa is its preferred carrier in the Americas, as underlying demand continues to outpace capacity increases. In June, the airlines ‘ RPM growth reached 6.4% with a load factor of $87.2%

Copa Holdings, S.A. (NYSE:CPA), through its subsidiaries Copa Airlines and Wingo, provides airline passenger and cargo services in Latin America. It operates from its hub in Panama City, offering flights to destinations across North, Central, and South America, as well as the Caribbean.

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Disclosure: None. This article is originally published at Insider Monkey.