Transat Price Target Lowered to CA$2 at TD

MT Newswires Live
Sep 11

TD Securities lowered its price target on Transat A.T. Inc. (TRZ.TO) to CA$2 from CA$2.25 on Friday.

Analyst Tim James maintained a hold rating on shares of the Montreal-based integrated tour operator following its quarterly results on Thursday.

The stock declined 8.2% on the Toronto Stock Exchange by the close Thursday.

"In the current environment of competition limiting yield expansion and higher jet fuel prices, we believe it is appropriate to wait for a better economic/industry backdrop that provides better visibility on long-term earnings potential before considering Transat," the analyst said.

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