Cargojet Receives BBB (low) Credit Rating with Stable Outlook

Cargojet ( (TSE:CJT) ) has issued an update.

Cargojet Inc. has been assigned an investment-grade issuer credit rating of BBB (low) with a stable trend by Morningstar DBRS. This rating reflects Cargojet’s strong market position in the Canadian domestic overnight air cargo market, efficient operations, and commitment to maintaining leverage within its target range. The credit rating is expected to enhance Cargojet’s financial flexibility, allowing the company to pursue opportunities to improve its cost of capital and strengthen its balance sheet.

The most recent analyst rating on (TSE:CJT) stock is a Hold with a C$120.00 price target. To see the full list of analyst forecasts on Cargojet stock, see the TSE:CJT Stock Forecast page.

Spark’s Take on TSE:CJT Stock

According to Spark, TipRanks’ AI Analyst, TSE:CJT is a Outperform.

Cargojet’s overall score is driven by strong earnings call results and a favorable valuation. The company’s financial performance is solid, though increasing leverage and negative free cash flow are areas of concern. Technical indicators are positive, supporting a bullish outlook. The strategic initiatives and record revenue growth further enhance its position.

To see Spark’s full report on TSE:CJT stock, click here.

More about Cargojet

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services, offering dedicated, ACMI, and international charter services across North America. The company operates a fleet of 41 cargo aircraft, transporting over 25 million pounds of cargo weekly.

Average Trading Volume: 85,877

Technical Sentiment Signal: Sell

Current Market Cap: C$1.47B

See more data about CJT stock on TipRanks’ Stock Analysis page.