Cargojet (TSE:CJT) Price Target Cut to C$135.00 by Analysts at Scotiabank

Key Points

• Scotiabank has reduced Cargojet's price target from C$140.00 to C$135.00, indicating a potential upside of 44.02% based on the stock's recent close.
• Other firms have provided varying ratings, with Stifel Canada giving a "strong-buy" designation and Desjardins setting a target of C$149.00.
• Cargojet's stock currently trades at C$93.74, with an average rating of "Buy" and a consensus target price of C$146.57 among analysts.

Cargojet (TSE:CJT - Get Free Report) had its target price cut by equities researchers at Scotiabank from C$140.00 to C$135.00 in a report issued on Friday,BayStreet.CA reports. Scotiabank's price target points to a potential upside of 44.02% from the stock's previous close.

Several other research firms also recently commented on CJT. Stifel Canada raised Cargojet to a "strong-buy" rating in a research report on Wednesday, June 11th. Stifel Nicolaus increased their target price on Cargojet from C$125.00 to C$130.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Desjardins set a C$149.00 target price on shares of Cargojet and gave the company a "buy" rating in a research note on Wednesday. TD Securities raised their price objective on Cargojet from C$150.00 to C$160.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, ATB Capital lowered their price objective on shares of Cargojet from C$155.00 to C$145.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$146.57.

Cargojet Trading Up 1.0%

Shares of CJT stock traded up C$0.94 during trading hours on Friday, reaching C$93.74. 136,188 shares of the stock traded hands, compared to its average volume of 84,728. The business has a fifty day moving average price of C$99.66 and a 200 day moving average price of C$93.65. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. Cargojet has a 1-year low of C$69.60 and a 1-year high of C$144.97. The firm has a market capitalization of C$1.41 billion, a PE ratio of 10.39 and a beta of 1.26.

Cargojet Company Profile

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.

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