AirTrip downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs downgraded AirTrip to Sell from Neutral with a price target of 1,050 yen, down from 2,000 yen. Goldman downgraded AirTrip citing “slower-than-expected profit growth” as the firm expects a tougher revenue environment in the online travel market due to “fierce competition with overseas players and the slower recovery in Japanese demand for overseas travel.”