Cargojet initiated with an Outperform at Raymond James

Raymond James initiated coverage of Cargojet (CGJTF) with an Outperform rating and C$132 price target The firm says Cargojet is Canada’s leading provider of overnight air cargo services and has scaled charter and leasing businesses targeting international markets. Cargojet is likely past the worst of the North American air cargo demand headwinds and has attractive long-term growth prospects, the analyst tells investors in a research note.