TD Securities lowered its price target on ATS Corp. (ATS.TO) to $49 from $59 on Tuesday.
Analyst Cherilyn Radbourne maintained a Buy rating on shares of the Canadian automation systems manufacturer.
The company announced on Monday that CEO Andrew Hider will leave the company by the end of August.
Its shares declined $3.56, or 8%, to $40.49 on the Toronto Stock Exchange.
"New investors will likely stay on the sidelines until a new CEO is names, but we expect existing shareholders to stick with the strong growth platform Andrew Hider has built, which should attract a strong candidate pool," Radbourne said in a note to clients.
"Decentralized management and a long-time, strategic shareholder should provide interim continuity," the analyst said.
"ATS could also become an acquisition target, which offers downside protection."
(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)
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。