Cargojet (CJT) Price Target Raised to C$90.00

Cargojet (TSE:CJT) had its price target hoisted by analysts at CIBC from C$70.00 to C$90.00 in a report released on Wednesday. CIBC’s target price would suggest a potential upside of 7.67% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada raised their target price on Cargojet from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 14th. National Bank Financial raised their target price on Cargojet from C$65.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 14th.

TSE CJT opened at C$83.59 on Wednesday. Cargojet has a one year low of C$51.05 and a one year high of C$87.71.

Cargojet (TSE:CJT) last released its earnings results on Monday, August 13th. The company reported C$0.35 EPS for the quarter, missing the consensus estimate of C$0.48 by C($0.13). Cargojet had a return on equity of 16.62% and a net margin of 6.26%. The business had revenue of C$109.00 million for the quarter, compared to analyst estimates of C$101.75 million.

About Cargojet

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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