The Globe and Mail reports in its Friday, June 13, edition that Bank of Nova Scotia analyst Konark Gupta raised his share target on Transat AT to $2 from $1.75 due to better-than-expected earnings and cash flows, along with debt restructuring. The Globe's David Berman writes in the Eye On Equities column that this share target, however, is still below Transat's closing share price of $2.48, which dropped over 11 per cent. The new target reinforces Mr. Gupta's "sector underperform" recommendation. Mr. Gupta says in a note: "Although we are impressed by management's efforts to improve margins and balance sheet coming out of the pandemic, we are still cautious about share price volatility due to Transat's elevated leverage ratio (pro forma sub-five times) and high sensitivity to uncontrollable factors such as demand, competition, inflation, fuel and FX." The Globe reported on Sept. 15, 2023, and Feb. 6, 2025, that Mr. Gupta rated Transat AT "sector outperform" and "sector underperform." The shares could then be had for $4.25 and $1.76. The Globe reported on May 29, 2025, that National Bank Financial analyst Cameron Doerksen had reaffirmed his "underperform" recommendation. It was then worth $1.65.