Could Cargojet Inc Lose its Strength? The Stock Reaches All-Time High

 Could Cargojet Inc Lose its Strength? The Stock Reaches All Time High

The stock of Cargojet Inc (TSE:CJT) reached all time high today, Nov, 7 and still has $90.64 target or 92.00% above today’s $47.21 share price. This indicates more upside for the $499.01 million company. This technical setup was reported by Barchart.com. If the $90.64 PT is reached, the company will be worth $459.09 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 14,472 shares traded hands. Cargojet Inc (TSE:CJT) has risen 79.45% since April 1, 2016 and is uptrending. It has outperformed by 77.49% the S&P500.

Cargojet Inc (TSE:CJT) Ratings Coverage

Out of 4 analysts covering Cargojet (TSE:CJT), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $52 is the highest target while $25 is the lowest. The $42.38 average target is -10.23% below today’s ($47.21) stock price. Cargojet has been the topic of 7 analyst reports since August 14, 2015 according to StockzIntelligence Inc. IBC maintained the shares of CJT in a report on Monday, September 19 with “Outperform” rating. National Bank Canada maintained Cargojet Inc (TSE:CJT) on Friday, August 14 with “Sector Perform” rating. The stock of Cargojet Inc (TSE:CJT) has “Buy” rating given on Friday, August 12 by Acumen Capital.

More notable recent Cargojet Inc (TSE:CJT) news were published by: Business.Financialpost.com which released: “Cargojet Inc. rated at $48, receives highly positive outlook from CIBC” on September 19, 2016, also Prnewswire.com with their article: “Tennenbaum Capital Partners Provides Multi-Aircraft Acquisition Financing for …” published on July 23, 2015, Theglobeandmail.com published: “Cargojet shares seen soaring further after reaching all-time highs” on August 17, 2016. More interesting news about Cargojet Inc (TSE:CJT) were released by: Stockhouse.com and their article: “IIROC Trade Halt – Cargojet Inc.” published on June 11, 2012 as well as Business.Financialpost.com‘s news article titled: “Canada’s Cargojet gearing up for e-commerce delivery surge” with publication date: August 11, 2014.

Cargojet Inc. is a provider of time sensitive overnight air cargo services. The company has a market cap of $499.01 million. The Company’s cargo business comprises operating a domestic overnight air cargo co-load network between over 10 Canadian cities; providing aircraft to clients on an aircraft, crew, maintenance and insurance basis, operating between points in Canada, the United States and Europe; operating scheduled international routes for multiple cargo clients between the United States and Bermuda, and between Canada and Europe, and providing dedicated aircraft to clients on an adhoc charter basis operating between points in Canada, the United States and other international destinations. It has a 111.46 P/E ratio. Within its overnight network, the Company also provides domestic air cargo services for a range of international airlines between points in Canada that connect such airlines’ gateways to Canada.

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