| Over a week ago | ||||
Copa Holdings released… Copa Holdings released preliminary passenger traffic statistics for December 2020. Consolidated capacity came in 60.8% lower year over year in December, while passenger traffic decreased 65.7% year over year, which resulted in a 74.8% load factor, 10.6 percentage points lower than December 2019. | ||||
| Over a month ago | ||||
Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AT&T (T) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Simon Flannery saying he expects a "robust" 5G smartphone upgrade cycle in 2021 to create risks for AT&T given that as consumers look to buy new 5G iPhones from Apple (AAPL) he would expect the switcher pool to increase. 2. Altice USA (ATUS) downgraded to Equal Weight with $36 target at Barclays with analyst Kannan Venkateshwar saying a large part of the company's growth going forward depends on maintaining its yield on price increases, which may get tougher to do given the its "already industry-leading" average revenue per user and the continued cord cutting. 3. Copa Holdings (CPA) downgraded to Neutral from Buy at UBS with analyst Rogerio Araujosaying following positive news on COVID-19 vaccine development, airline stocks have soared 50%-75% in the past few weeks, with the market already pricing in traffic recovery and profitability close to record levels for some airlines. 4. GSX Techedu (GSX) downgraded to Neutral from Buy at UBS with analyst Felix Liu noting that he remains positive on GSX's position, but warns that the customer acquisition costs may be "difficult to maintain" given the tighter competition for online ad resources that has resulted in rising traffic cost, stating that high online traffic cost may persist in the near-term. 5. Lam Research (LRCX) downgraded to Hold from Buy at Deutsche Bank with analyst Sidney Ho believing the shares are now fairly valued. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
UBS analyst Rogerio… UBS analyst Rogerio Araujo downgraded Copa Holdings to Neutral from Buy with a price target of $90, up from $87. Following positive news on COVID-19 vaccine development, airline stocks have soared 50%-75% in the past few weeks, with the market already pricing in traffic recovery and profitability close to record levels for some airlines, Araujo tells investors in a research note. The analyst investors "need to pick stocks carefully" in the sector and downgrades Copa on valuation. He believes the vaccine is already priced in. | ||||
Copa Holdings reports… Copa Holdings reports November consolidated capacity, or ASMs, came in 72.3% lower year over year in November, while passenger traffic, or RPMs, decreased 74.6% year over year, which resulted in a 78.3% load factor, 7.3 percentage points lower than November 2019. | ||||
Raymond James analyst… Raymond James analyst Savanthi Syth raised the firm's price target on Copa Holdings to $98 from $60 and keeps an Outperform rating on the shares. Syth says demand recovery for Copa is likely to be slower than for many airlines given its exclusive reliance on international trave, but the analyst expects Copa to gain market share over the next couple of years due to the likely limited growth in the medium term at two of its key competitors operating under bankruptcy protection. | ||||
Barclays analyst Pablo… Barclays analyst Pablo Monsivais raised the firm's price target on Copa Holdings to $75 from $53 and keeps an Underweight rating on the shares following the company's Q3 results. With almost an entirely international network, the near-term outlook for Copa remains unclear, Monsivais tells investors in a research note. | |
Check out this evening's…
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Reports Q3 revenue… Reports Q3 revenue $32.38M, consensus $39.02M. Due to government restrictions on air travel implemented in response to the Covid-19 outbreak, the Company did not provide scheduled commercial service during the first 45 days of the quarter. On August 14, the Company restarted limited scheduled commercial operations subject to Panama's restrictions on the number of flights and entry for non-citizens and non-residents, and it has been gradually increasing capacity ever since. However, the capacity figures were still very low on a full quarter basis. Therefore, this earnings release will focus on the financial results and metrics that are relevant in these circumstances and will omit certain financial ratios, unit metrics and operational indicators that are usually provided, since they are either not measurable or immaterial on such a limited operational base. | |
Load factor was 69.9% vs.… Load factor was 69.9% vs. 85% a year ago. After virtually no operations since March due to air travel restrictions related to the Coronavirus pandemic, the company has now restarted regular operations and is gradually increasing its capacity. |
| Over a quarter ago | ||||
Sabre (SABR) and Copa… Sabre (SABR) and Copa Airlines, a subsidiary of Copa Holdings (CPA), have signed a new long-term, worldwide distribution agreement. This new agreement ensures that Sabre will continue to distribute Copa Airlines' content to travel agencies and corporations through the Sabre travel marketplace. Copa Airlines restarted limited operations in August. The Sabre travel marketplace facilitates the marketing, sale and servicing of airfares, hotel rooms, rental cars, rail tickets and other types of travel to buyers around the world. | ||||