Copa Holdings SA (CPA) stock is soaring 5.04% in intraday trading on Thursday, following the release of its second-quarter earnings report that surpassed analyst expectations. The Panama-based airline holding company delivered a strong financial performance, demonstrating resilience in the competitive aviation industry.
Copa Holdings reported adjusted earnings of $3.61 per share for the quarter ended June 30, significantly higher than the $2.88 per share reported in the same quarter last year. This result beat the mean expectation of $3.36 per share from twelve analysts, with estimates ranging from $2.79 to $4.42 per share. The company's revenue also saw a modest increase, rising 2.8% to $842.60 million, slightly below the analysts' expectation of $843.14 million.
The positive earnings report has reinforced investor confidence in Copa Holdings. The company's shares have already gained 27.6% year-to-date, and this latest surge adds to its impressive performance. Wall Street maintains a bullish outlook on the stock, with a median 12-month price target of $150.00, representing a potential upside of about 25.3% from its last closing price. The current average analyst rating on Copa Holdings shares is "buy", with 14 analysts recommending either "strong buy" or "buy", and no "hold", "sell", or "strong sell" ratings.
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