The Globe and Mail reports in its Friday, Jan. 23, edition that National Bank Financial analyst Cameron Doerksen has reaffirmed his "outperform" recommendation for Cargojet. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen gave his share target a $13 boost to $108. Analysts on average target the shares at $108.17. Mr. Doerksen sees domestic air cargo demand remaining "healthy" for Cargojet. Mr. Doerksen cautions that he expects Cargojet's more internationally focused aircraft, crew, maintenance, and insurance segment and charter operations "to face end market-driven headwinds in the coming quarters." Mr. Doerksen says in a note: "We do not expect any major surprises with Cargojet's Q4/25 results as we understand that the peak period for Cargojet's domestic network was consistent with past years. As was the case with Q3, ACMI and charter activity is likely to be weaker year-over-year due to lower international demand for air cargo in North America and a shorter length of haul for the routes the company operates for DHL. Cargojet did operate up to three aircraft for UPS on routes into Canada in Q4 with this incremental flying continuing into Q1/26, so we expect some boost to charter revenue."