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.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)