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AVH

Avianca

$5.30

0.5 (10.42%)

, UAL

United Airlines

$96.69

1.62 (1.70%)

16:25
11/30/18
11/30
16:25
11/30/18
16:25

Copa Airlines, United Airlines and Avianca announce joint business agreement

Copa Airlines (CPA) announced it has reached an agreement with United Airlines (UAL) and Avianca (AVH) for a joint business agreement, or JBA, that, pending government approval, is expected to provide benefits for customers, communities and the marketplace for air travel between the United States and 19 countries in Central and South America. By integrating complementary route networks into a collaborative revenue-sharing JBA, Copa, United and Avianca will offer customers many benefits including integrated service in more than 12,000 city pairs, new nonstop routes, additional flights on existing routes and reduced travel times. The carriers expect the agreement to drive traffic growth at gateway cities throughout Latin America. Further, the carriers anticipate the JBA will provide customers with expanded codeshare flight options, competitive fares and a more streamlined travel experience. Additionally, the JBA is expected to enable the companies to better align their frequent flyer programs, coordinate flight schedules and look to improve the overall travel experience. Although JBAs around the world have been shown to benefit consumers and enhance competition, currently 99% of the U.S. carrier passenger traffic that makes connections in Central and South America does so without a JBA. Competition in the Latin American-U.S. market has grown and includes a diverse set of carriers offering service across multiple price points. The agreement represents an innovative, new product offering that the carriers believe will make competition stronger. To enable the deep coordination required to deliver these benefits to consumers, communities and the marketplace, Copa, United and Avianca plan to apply for regulatory approval of the agreement and an accompanying grant of antitrust immunity from the U.S. Department of Transportation and other regulatory agencies. The parties will fully implement the JBA after receiving the necessary government approvals. The JBA currently includes cooperation between the U.S. and Central and South America, excluding Brazil. With the recently concluded Open Skies agreement between the US and Brazil, the carriers are exploring the possibility of adding Brazil to the JBA.

AVH

Avianca

$5.30

0.5 (10.42%)

UAL

United Airlines

$96.69

1.62 (1.70%)

CPA

Copa Holdings

$85.03

2 (2.41%)

AVH Avianca
$5.30

0.5 (10.42%)

02/16/18
UBSW
02/16/18
UPGRADE
Target $9
UBSW
Neutral
Avianca upgraded to Neutral from Sell at UBS
UBS analyst Rogerio Araujo upgraded Avianca to Neutral and raised his price target for the shares to $9 from $5.40. The analyst views the current valuation as fair under current market conditions.
02/20/18
JPMS
02/20/18
UPGRADE
Target $13
JPMS
Overweight
Avianca upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Fernando Abdalla upgraded Avianca Holdings to Overweight with a $13 price target. The analyst believes the company's improving fundamentals are not adequately priced into the shares. He expects Avianca to report strong Q4 results.
10/29/18
BOFA
10/29/18
DOWNGRADE
BOFA
Underperform
Avianca downgraded to Underperform from Neutral at BofA/Merrill
11/23/18
JPMS
11/23/18
DOWNGRADE
Target $6.5
JPMS
Neutral
Avianca downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Fernando Abdalla downgraded Avianca (AVH) to Neutral and lowered his price target for the shares to $6.50 from $8. The analyst sees risk for the company given its exposure to competition from low-cost carriers. He prefers shares of Copa Holdings (CPA). Abdalla views Copa's valuation discount to peers as unwarranted. He keeps an Overweight rating on the shares with a $100 price target.
UAL United Airlines
$96.69

1.62 (1.70%)

11/19/18
FBCO
11/19/18
INITIATION
Target $113
FBCO
Outperform
United Continental initiated with an Outperform at Credit Suisse
Credit Suisse analyst Jose Caiado started United Continental with an Outperform rating and $113 price target. The airline's domestic growth strategy is working and its fuel recapture is best-in-class, Caiado tells investors in a research note. The analyst sees no evidence that the company's momentum is slowing and tells investors to "resist the temptation to rotate into a laggard for a catch-up trade."
10/30/18
10/30/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. LabCorp (LH) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg saying the company is faced with pressure from "lower lab testing payment rates mandated by the Protecting Access to Medicaid Act of 2014" along with business disruptions and the impact of acquisitions which resulted in lowers margins for the quarter. 2. E-Trade (ETFC) downgraded to Outperform from Strong Buy at Raymond James with analyst Patrick O'Shaughnessy saying the recent board decision not to sell the business and remain a standalone company takes a sales scenario off the table. The analyst remains positive on shares ans believes there is plenty of upside as management executes on its operating plan. 3. Southwest (LUV) downgraded to Underweight from Neutral at JPMorgan while United Continental (UAL) and Spirit Airlines (SAVE) downgraded to Neutral from Overweight. 4. Flex (FLEX) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing the expected impact from the "shutdown of Mexican operations with key customer Nike (NKE), which he expects to be fully unwound," as well as the retirement of the company CEO Mike McNamara who had presided over the company's business expansion. 5. Elevate Credit (ELVT) downgraded to Market Perform from Outperform at JMP Securities and William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/18
SUSQ
11/28/18
INITIATION
Target $102
SUSQ
Neutral
United Continental initiated with a Neutral at Susquehanna
Susquehanna analyst Christopher Stathoulopoulos initiated United Continental with a Neutral rating and $102 price target.
11/12/18
GSCO
11/12/18
INITIATION
Target $102
GSCO
Neutral
United Continental initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Catherine O'Brien started United Continental Holdings with a Neutral rating and $102 price target. The analyst sees relatively lower margin improvement at United versus other airlines. She also launched coverage on the U.S. Airlines sector with an Attractive coverage view. Stronger revenue trends in 2019 coupled with a focus on cost control should drive higher industry operating margins for the first time since 2015 despite fuel headwinds, O'Brien tells investors in a research note.
CPA Copa Holdings
$85.03

2 (2.41%)

11/16/18
IMPC
11/16/18
DOWNGRADE
Target $68
IMPC
Underperform
Copa Holdings downgraded to Underperform from In-Line at Imperial Capital
Imperial Capital analyst Michael Derchin downgraded Copa Holdings to Underperform and cut his price target for the shares to $68 from $82. The company on Wednesday reported weaker than expected Q3 earnings and provided forward guidance below expectations, Derchin tells investors in a research note. The analyst now expects Copa's margins to resemble lower-valuation network carriers considering the "significant macroeconomic headwinds" that are expected through fiscal 2019.
11/19/18
DBAB
11/19/18
NO CHANGE
DBAB
Copa Holdings named a short-term buy at Deutsche Bank
11/15/18
SBSH
11/15/18
DOWNGRADE
SBSH
Neutral
Copa Holdings downgraded to Neutral from Buy at Citi
Citi analyst Stephen Trent downgraded Copa Holdings to Neutral.

TODAY'S FREE FLY STORIES

MDT

Medtronic

$111.10

-0.15 (-0.13%)

17:47
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  • 19

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TPCO

Tribune Publishing

$9.74

0.16 (1.67%)

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RPAI

Retail Properties of America

$14.08

-0.01 (-0.07%)

, SHAK

Shake Shack

$59.90

-1.85 (-3.00%)

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  • 19

    Feb

CWT

California Water Service

$50.67

0.2 (0.40%)

17:28
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California Water Service chairman sells 10K shares of common stock »

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BA

Boeing

$366.93

-2.57 (-0.70%)

17:25
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Hot Stocks
Boeing awarded maximum $232M Defense Logistics Agency delivery order »

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AXS

Axis Capital

$58.84

-0.1 (-0.17%)

17:23
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Syndicate
Breaking Syndicate news story on Axis Capital »

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  • 20

    Nov

BA

Boeing

$366.93

-2.57 (-0.70%)

17:23
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Hot Stocks
Bell Boeing awarded $379.38M Defense Logistics Agency contract for V-22 platform »

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SMLP

Summit Midstream

$3.79

-0.05 (-1.30%)

17:12
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Syndicate
Breaking Syndicate news story on Summit Midstream »

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TMST

TimkenSteel

$5.33

-0.17 (-3.09%)

17:01
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TimkenSteel to close its Houston Material Services facility »

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ATVI

Activision Blizzard

$53.28

0.555 (1.05%)

16:58
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16:58
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16:58
Periodicals
Activision CEO says 'no reason' company can't reach 1B users, CNBC says »

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TRS

TriMas

$30.92

0.13 (0.42%)

16:58
11/19/19
11/19
16:58
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Hot Stocks
TriMas CEO Amato sells 16K shares of common stock »

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BCRX

BioCryst

$2.03

0.33 (19.41%)

16:52
11/19/19
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16:52
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Hot Stocks
Breaking Hot Stocks news story on BioCryst »

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  • 02

    Dec

BCRX

BioCryst

$2.03

0.33 (19.41%)

16:51
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Point72 reports 6.1% passive stake in BioCryst »

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  • 02

    Dec

QTT

Qutoutiao

$2.99

-0.1 (-3.24%)

16:50
11/19/19
11/19
16:50
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16:50
Syndicate
Qutoutiao files to sell 1.48M Class A ordinary shares for holders »

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QTT

Qutoutiao

$2.99

-0.1 (-3.24%)

16:49
11/19/19
11/19
16:49
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16:49
Syndicate
Qutoutiao files to sell $80M of Class A ordinary shares »

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UNVR

Univar

$22.85

-0.3 (-1.30%)

, BA

Boeing

$366.93

-2.57 (-0.70%)

16:48
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Hot Stocks
Univar signs 10-year contract extension with Boeing South Carolina »

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UNVR

Univar

$22.85

-0.3 (-1.30%)

BA

Boeing

$366.93

-2.57 (-0.70%)

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STIM

Neuronetics

$4.13

(0.00%)

16:44
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Hot Stocks
Neuronetics CFO Furlong buys 23K shares of common stock »

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VERO

Venus Concept

$3.29

-0.07 (-2.08%)

16:43
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Venus Concept receives Health Canada OK to market Venus Bliss in Canada »

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AEM

Agnico Eagle

$60.20

0.88 (1.48%)

16:43
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Syndicate
Breaking Syndicate news story on Agnico Eagle »

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AMRN

Amarin

$22.73

0.1 (0.44%)

16:43
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  • 28

    Dec

SUMR

Summer Infant

$0.31

-0.0041 (-1.30%)

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PCG

PG&E

$6.85

-0.22 (-3.11%)

16:42
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Periodicals
Fire victims claim $11B insurance agreement is blocking PG&E deal, WSJ says »

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  • 07

    Jan

ALC

Alcon

$59.00

0.105 (0.18%)

16:42
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  • 20

    Nov

  • 02

    Dec

BDSI

BioDelivery Sciences

$6.14

0.06 (0.99%)

16:41
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BioDelivery Sciences director sells 200K shares of common stock »

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  • 17

    Dec

USO

United States Oil Fund

$11.57

-0.33 (-2.77%)

16:40
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General News
API crude inventories for week of November 15 »

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