Cargojet (OTCMKTS:CGJTF) Price Target Cut to $293.00

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Cargojet (OTCMKTS:CGJTF) had its price target reduced by analysts at Royal Bank of Canada from $318.00 to $293.00 in a research report issued on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 98.10% from the stock’s previous close.

Several other analysts also recently issued reports on CGJTF. Canaccord Genuity raised shares of Cargojet from a “hold” rating to a “buy” rating in a research report on Wednesday, April 28th. Scotiabank raised shares of Cargojet from a “sector perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research report on Monday, March 8th. BMO Capital Markets cut their price objective on shares of Cargojet from $270.00 to $245.00 and set an “outperform” rating on the stock in a report on Tuesday, March 2nd. Finally, National Bank Financial reaffirmed an “outperform” rating on shares of Cargojet in a report on Tuesday, March 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $233.00.

Shares of CGJTF traded up $1.26 during mid-day trading on Tuesday, reaching $147.91. The company had a trading volume of 482 shares, compared to its average volume of 273. The company’s 50 day simple moving average is $139.09 and its 200 day simple moving average is $158.34. Cargojet has a 1-year low of $93.99 and a 1-year high of $186.62.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo services between fourteen cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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