Canaccord Genuity Group Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Cargojet (TSE:CJT) had its target price boosted by equities research analysts at Canaccord Genuity Group from C$165.00 to C$173.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 64.64% from the company’s current price.

CJT has been the topic of several other reports. Scotiabank lowered their price target on shares of Cargojet from C$170.00 to C$165.00 in a report on Wednesday. Cormark lowered their target price on Cargojet from C$140.00 to C$120.00 in a research note on Wednesday. National Bankshares cut their price target on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. TD Securities reduced their price target on Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, CIBC dropped their price objective on Cargojet from C$177.00 to C$163.00 in a report on Wednesday. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cargojet has a consensus rating of “Moderate Buy” and an average target price of C$158.45.

Cargojet Stock Performance

CJT stock opened at C$105.08 on Wednesday. The firm has a 50 day simple moving average of C$112.76 and a 200 day simple moving average of C$123.05. Cargojet has a 52 week low of C$100.01 and a 52 week high of C$144.97. The stock has a market cap of C$1.68 billion, a P/E ratio of 737.46 and a beta of 0.91. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.