TSX:CJT - Post Discussion
Post by
retiredcf on Jul 28, 2022 7:40am
New Targets
CIBC’s Kevin Chiang raised his Cargojet Inc. target to $210 from $207, reiterating an “outperformer” recommendation. Others making changes include: Canaccord Genuity’s Matthew Lee to $210 from $200 with a “buy” rating and Acumen Capital’s Nick Corcoran to $240 from $295 with a “buy” rating. The average is $221.83.
“Post-pandemic new challenges have emerged from inflation, rising interest rates, higher fuel costs, and the risk of recession. Management acknowledged that there has been a slowdown domestically from ecommerce. CJT has increased the number of routes with DHL. There have been no changes to the capex plan,” said Mr. Corcoran.
“Despite near-term challenges, CJT remains well positioned with an industry leading position in the domestic air cargo market, expanding relationships with international freight carriers that are expected to drive international revenue growth well into the future, and a strong balance sheet to execute on the fleet plan.”.
Be the first to comment on this post