TD Securities lowered its price target on Alimentation Couche-Tard Inc. (ATD.TO) to C$103 from C$110 on Thursday.
Analyst Derek Lessard maintained a buy rating on shares of the Canadian multinational convenience and gas stop operator following its quarterly results on Wednesday.
"The long-term outlook remains favourable, in our view, and we still expect ATD to outperform industry peers," Lessard said in a note to clients.
"Near term, however, the shares could remain rangebound, with few catalysts present unless consumer health improves and/or fuel prices decline."
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