The Globe and Mail reports in its Wednesday, March 6, edition that National Bank analyst Cameron Doerksen predicts "strong" demand for transAtlantic flights during the key summer season this year, but expects Canadian airlines to face "some pricing pressure" due to increased capacity. The Globe's David Leeder writes in the Eye On Equities column that nonetheless, Mr. Doerksen is sticking with his "underperform" call and $3.25 share target for Transat AT. Analysts on average target the shares at $4.20. Mr. Doerksen says in a note: "Last summer the trans-Atlantic represented 70 per cent of Transat's total revenue in its fiscal Q3 and Q4 (May-October) and remains by far the most important driver of yearly profits for the company. Transat is adding materially more capacity to Europe this summer, which should drive higher revenue, but our current forecast also assumes some modest yield deterioration. We remain cautious on Transat shares as we await the company's refinancing plan that we suspect could lead to dilution for existing equity holders." The Globe reported on Dec. 1 that Mr. Doerksen had reaffirmed his "underperform" recommendation for Transat AT. The shares could then be had for $3.08.