In a new note to investors today, an analyst has provided a rating update for Cargojet (CJT). Analyst Doug Taylor from Canaccord Genuity reiterated a Buy rating, with a C$95 price target.
Taylor has an average return of 10.2% when recommending Cargojet.
According to TipRanks.com, Taylor is ranked #2011 out of 5188 analysts.
Cargojet has an analyst consensus of Moderate Buy, with a price target consensus of C$92.50, representing a 12.2% upside. In a report issued on February 14, Laurentian Bank of Canada also maintained a Buy rating on the stock with a C$98 price target.
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Based on Cargojet’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$4.7 million. In comparison, last year the company had a net profit of C$11.2 million.
Cargojet, Inc. provides time-sensitive overnight air cargo services. The firm provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis, operating between points in Canada and the United States of America. It also offers scheduled international routes for multiple cargo customers across North America, to the Caribbean, and to Europe. The company was founded by Ajay Virmani on April 7, 2010 and is headquartered in Mississauga, Canada.
The company’s shares closed on Thursday at C$82.45.
