Royal Bank of Canada Increases Cargojet (TSE:CJT) Price Target to C$119.00

Cargojet (TSE:CJT) had its price objective lifted by Royal Bank of Canada from C$100.00 to C$119.00 in a report published on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on CJT. AltaCorp Capital raised their target price on shares of Cargojet from C$95.00 to C$110.00 and gave the company a buy rating in a report on Thursday. National Bank Financial raised their target price on shares of Cargojet from C$82.00 to C$94.00 and gave the company a sector perform rating in a report on Thursday. Canaccord Genuity cut shares of Cargojet from a buy rating to a hold rating and raised their target price for the company from C$95.00 to C$100.00 in a report on Thursday, July 25th. CIBC raised their target price on shares of Cargojet from C$90.00 to C$105.00 in a report on Thursday, July 18th. Finally, Raymond James reaffirmed a market perform rating and issued a C$90.00 target price on shares of Cargojet in a report on Monday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of C$102.50.

Shares of CJT traded down C$1.35 during mid-day trading on Thursday, hitting C$92.41. 35,802 shares of the company’s stock were exchanged, compared to its average volume of 43,981. The company has a market capitalization of $1.26 billion and a P/E ratio of 79.05. Cargojet has a fifty-two week low of C$65.25 and a fifty-two week high of C$98.80. The company has a debt-to-equity ratio of 410.27, a quick ratio of 0.50 and a current ratio of 0.59. The company has a 50-day moving average of C$88.76.

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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