Acumen Top Pick Analysts at Acumen Capital introduced their 2023 “Top Ideas” list on Tuesday, consisting of seven equities with a focus on “proven businesses that have historically shown solid execution against a well-articulated business plan.”
The firm said the stocks were chosen based on “reasonable valuations in the context of historical trading ranges; strong free cash flow generation supported by recurring revenue; business model that can grow both organically and through acquisitions; Strong balance sheet (or the ability to deleverage without external capital) to fund growth strategy internally and catalysts that may result in a step change in the business.”
Their picks are:
Cargojet Inc. with a “buy” rating and $220 target. Average: $198.36.
Analysts: “CJT is well positioned with a dominant market position and aircraft deliveries through the end of 2024 expected to fuel both domestic and international growth. We believe the Company’s strong fundamentals are disconnected from the share price.”