UPDATE: Imperial Capital Reiterates on Copa Holdings SA Following Strong 3Q13 Results

In a report published Friday, Imperial Capital analyst Bob McAdoo reiterates an Outperform rating on

, and raised the price target from $160.00 to $175.00. In the report, Imperial Capital noted, “We are maintaining our Outperform rating and raising our one-year price target to $175 from $160. Copa continues to demonstrate its ability to grow capacity by double digits while maintaining industry leading operating and EBITDA margins. In concert with the earnings release, management issued preliminary 2014 guidance. Management expects 2014 to another year of double-digit capacity growth as management increases frequencies within the current route network. Operating margins are expected to remain on par with 2013 levels. Given management's track record, we are confident in Copa's ability to meet these expectations. Our price target represents approximately 14% of upside from recent trading levels.” Copa Holdings SA closed on Thursday at $154.00.