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Fly News Breaks for August 10, 2018
CPA
Aug 10, 2018 | 07:35 EDT
As previously reported, Stifel analyst Joseph DeNardi downgraded Copa Holdings to Sell from Hold as he sees further risk to its revenue per available seat mile in the second half of the year given the historical relationship between Copa's RASM and Latin American foreign exchange movements and Copa's historical propensity to lower RASM guidance during periods of forex headwinds. DeNardi, who believes another downward revision to RASM guidance would be likely assuming stable forex from here, lowered his price target on Copa shares to $70 from $100.
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