Cargojet Inc (CJT) Given New C$60.00 Price Target at CIBC

Cargojet Inc (TSE:CJT) had its target price raised by investment analysts at CIBC from C$56.00 to C$60.00 in a research note issued to investors on Tuesday. CIBC’s price objective points to a potential upside of 10.50% from the stock’s previous close.

CJT has been the topic of a number of other research reports. National Bank Financial lowered shares of Cargojet from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from C$51.00 to C$53.00 in a report on Wednesday, August 9th. Acumen Capital boosted their price target on shares of Cargojet from C$56.00 to C$60.00 in a report on Tuesday. Finally, Royal Bank Of Canada boosted their price target on shares of Cargojet from C$57.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday.

Cargojet (TSE:CJT) traded up C$0.71 during mid-day trading on Tuesday, hitting C$54.30. 16,634 shares of the stock were exchanged, compared to its average volume of 25,833. Cargojet has a twelve month low of C$42.72 and a twelve month high of C$54.50.

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In other Cargojet news, insider Ajay Kumar Virmani sold 7,366 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of C$50.31, for a total value of C$370,583.46. Also, insider George Stephen Sugar sold 1,431 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of C$50.75, for a total transaction of C$72,623.25. In the last quarter, insiders sold 33,827 shares of company stock worth $1,700,055.

Cargojet Company Profile

Cargojet Inc is a provider of time sensitive overnight air cargo services. The Company’s cargo business comprises operating a domestic overnight air cargo co-load network between over 10 Canadian cities; providing aircraft to customers on an aircraft, crew, maintenance and insurance (ACMI) basis, operating between points in Canada, the United States and Europe; operating scheduled international routes for multiple cargo customers between the United States and Bermuda, and between Canada and Europe, and providing dedicated aircraft to customers on an adhoc charter basis operating between points in Canada, the United States and other international destinations.

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