The Globe and Mail reports in its Wednesday, Oct. 18, edition that National Bank Financial analyst Cameron Doerksen has reaffirmed his "sector perform" recommendation for Cargojet. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen whacked his share target back by $7 to $112. Analysts on average target the shares at $142.17. Mr. Doerksen says in a note: "There are some signs that end markets are stabilizing. Of note, IATA recently reported that global demand for air freight was up 1.5 per cent year-over-year in August, the first year-over-year increase since February, 2022, and down just 1.3 per cent versus August, 2019. Air freight capacity is still up 12.2 per cent year-over-year, however, so the broader market remains oversupplied. Nevertheless, if end market conditions do stabilize, the downside for Cargojet shares is likely limited in our view, and we could see a positive inflection point for investor sentiment and the stock emerge in the first half of 2024. We nevertheless continue to expect muted results from Cargojet in the next couple quarters which drives our short-term neutral view on the stock. We have trimmed our EBITDA and earnings forecasts for Cargojet."