The stock of Cargojet Inc (TSE:CJT) hit a new 52-week high and has $80.68 target or 61.00% above today’s $50.11 share price. The 6 months bullish chart indicates low risk for the $566.38M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $80.68 price target is reached, the company will be worth $345.49M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 30,587 shares traded hands. Cargojet Inc (TSE:CJT) has risen 71.28% since April 15, 2016 and is uptrending. It has outperformed by 67.42% the S&P500.
Cargojet Inc (TSE:CJT) Ratings Coverage
Out of 3 analysts covering Cargojet (TSE:CJT), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $54 is the highest target while $25 is the lowest. The $48.63 average target is -2.95% below today’s ($50.11) stock price. Cargojet has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by IBC on Monday, September 19. Acumen Capital maintained the stock with “Buy” rating in Friday, August 12 report. The stock of Cargojet Inc (TSE:CJT) earned “Sector Perform” rating by National Bank Canada on Friday, August 14.
Another recent and important Cargojet Inc (TSE:CJT) news was published by Business.Financialpost.com which published an article titled: “Cargojet Inc. rated at $48, receives highly positive outlook from CIBC” on September 19, 2016.
Cargojet Inc. is a provider of time sensitive overnight air cargo services. The company has a market cap of $566.38 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 271.95 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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