06:38:16 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Cargojet Inc
Symbol CJT
Shares Issued 13,043,418
Close 2018-01-19 C$ 63.10
Market Cap C$ 823,039,676
Recent Sedar Documents

Globe says Acumen's Pow maintains Cargojet at "buy"

2018-01-22 07:48 ET - In the News

The Globe and Mail reports in its Saturday, Jan. 20, edition that Acumen Capital analyst Brian Pow views Cargojet's new scheduled international flights as a "positive," leading him to raise his share target to $65 from $60. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $60.25. On Thursday, Cargojet announced it will begin operating twice per week between Hamilton and Bogota, Colombia and Lima, Peru as well between Hamilton and Cologne, Germany. The flights fill the void left by the expiration of an agreement with Air Canada Cargo. Mr. Pow continues to rate the shares "buy." Mr. Pow says in a note: "We see potential for CJT to use this strategy to expand its non-core business going forward. Catalysts for the story in 2018 include (1) CJT winning the FedEx contract (operated by Morningstar until 2019) if it comes up for renewal, (2) a dividend increase (CJT increased its dividend by 17 per cent in August 2016 and 10 per cent in March 2017), and (3) growth driven by the core and noncore business." Elsewhere, Echelon Wealth Partners analyst Ralph Garcea hiked his share target to $70 from $62 with an unchanged "buy" rating.

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