Deutsche Bank (NYSE:DB) Raises Rating on Copa Holdings (NYSE:CPA) on Stronger Growth Outlook

With growth prospects for Copa Holdings (NYSE:CPA) looking good for the next couple years, Deutsche Bank (NYSE:DB) raised their rating on the company from "Hold" to "Buy."

Deutsche said, "We are raising our 2011 diluted EPS estimate from $5.15 to $5.40 (vs. consensus of $5.49) and our 2012 EPS estimate from $5.85 to $6.40 (vs. consensus of $6.47). Driving our forecast is consolidated capacity growth of 18.0% for 2011 (previously we were at 6.9%) and 9.3% for 2012 (vs. our previous estimate of 4.6%). Underlying that growth are 10 aircraft deliveries in 2011 and another nine in 2012 resulting in a cons’d fleet of 82 aircraft."

Copa closed Friday at $56.28, gaining $1.43, or 2.61 percent. Deutsche has a price target of $67 on them.