Cargojet (TSE:CJT) Price Target Increased to C$110.00 by Analysts at AltaCorp Capital

Cargojet (TSE:CJT) had its price target lifted by research analysts at AltaCorp Capital from C$95.00 to C$110.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. AltaCorp Capital’s price objective suggests a potential upside of 17.05% from the stock’s previous close.

A number of other brokerages have also weighed in on CJT. Canaccord Genuity lowered Cargojet from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$95.00 to C$100.00 in a research report on Thursday, July 25th. National Bank Financial boosted their target price on Cargojet from C$82.00 to C$94.00 and gave the stock a “sector perform” rating in a research report on Thursday. CIBC boosted their target price on Cargojet from C$90.00 to C$105.00 in a research report on Thursday, July 18th. Finally, Raymond James reissued a “market perform” rating and issued a C$90.00 target price on shares of Cargojet in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$102.50.

TSE:CJT traded up C$3.19 during mid-day trading on Thursday, reaching C$93.98. The company’s stock had a trading volume of 57,646 shares, compared to its average volume of 43,886. Cargojet has a 12-month low of C$65.25 and a 12-month high of C$98.80. The firm’s fifty day simple moving average is C$88.56. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 410.27. The stock has a market capitalization of $1.23 billion and a PE ratio of 80.39.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo co-load network between 14 cities in Canada; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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Analyst Recommendations for Cargojet (TSE:CJT)

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