The Globe and Mail reports in its Friday edition that Desjardins analyst Maher Yaghi cut TeraGo to "hold" from "buy." The Globe's David Leeder writes that Mr. Yaghi shaved his share target to $5.25 from $5.50. Analysts on average target the shares at $4.98. Mr. Yaghi says in a note: "While we support management's initiatives to focus on client retention though price concessions, we have limited visibility on future revenue trends. We believe a more cautious view on the shares is warranted until we see clear signs of top-line improvement. We have reduced our expected connectivity revenue for 2017 and 2018 as the rate of decline in the latest quarter was steeper than we had expected. Due to this lower revenue outlook, and because of the operational leverage of the business, we have made larger reductions to our EPS and EBITDA forecasts. Overall, we now see revenue declining by 6 per cent year over year in 2017 and by 1 per cent year over year in 2018. TGO now operates within a very competitive environment in western Canada. Management's focus on reducing churn and increasing bundling should help improve revenue metrics; however, it will likely take a few quarters before these efforts impact reported results."