National Bank Financial Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Key Points

• National Bank Financial raised its price target on Cargojet from C$104 to C$108 and maintained an "outperform" rating, implying roughly a 30.8% upside from the current share price.
• Analyst sentiment is broadly positive—10 Buys and 1 Hold—with a consensus target of C$124.58; Cargojet recently traded at C$82.56, has a market cap of C$1.23B, a P/E of ~15.8, and reported QEPS of C$0.60 on C$254.7M revenue.

Cargojet (TSE:CJT - Get Free Report) had its price objective lifted by National Bank Financial from C$104.00 to C$108.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 30.81% from the company's current price.

Several other brokerages also recently issued reports on CJT. Royal Bank Of Canada lowered their price objective on shares of Cargojet from C$143.00 to C$140.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. Raymond James Financial raised their price objective on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an "outperform" rating in a research note on Friday, January 23rd. Scotiabank lowered their price objective on shares of Cargojet from C$118.00 to C$115.00 and set an "outperform" rating on the stock in a research note on Thursday, April 9th. Stifel Nicolaus raised their price objective on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Finally, Desjardins raised their price objective on shares of Cargojet from C$117.00 to C$126.00 in a research note on Thursday, February 26th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Cargojet currently has an average rating of "Moderate Buy" and a consensus price target of C$124.58.

Cargojet Stock Performance

Shares of TSE:CJT traded up C$4.86 during trading on Wednesday, reaching C$82.56. The stock had a trading volume of 113,617 shares, compared to its average volume of 104,020. Cargojet has a 52 week low of C$65.60 and a 52 week high of C$113.89. The firm has a market capitalization of C$1.23 billion, a price-to-earnings ratio of 15.76 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 155.48. The stock has a fifty day simple moving average of C$84.55 and a two-hundred day simple moving average of C$84.45.

Cargojet (TSE:CJT - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported C$0.60 earnings per share (EPS) for the quarter. The business had revenue of C$254.70 million for the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. As a group, analysts anticipate that Cargojet will post 5.890933 earnings per share for the current fiscal year.

About Cargojet

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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