Cargojet (OTCMKTS:CGJTF) shares dropped 7.1% during mid-day trading on Monday . The stock traded as low as $113.82 and last traded at $113.82, approximately 116 shares were traded during trading. A decline of 82% from the average daily volume of 634 shares. The stock had previously closed at $122.53.

CGJTF has been the subject of several research reports. Canaccord Genuity reiterated a “neutral” rating on shares of Cargojet in a research note on Friday, April 17th. Raymond James reiterated a “hold” rating on shares of Cargojet in a research note on Friday, May 8th. CIBC boosted their price objective on shares of Cargojet from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Royal Bank of Canada upped their target price on shares of Cargojet from $132.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Scotiabank upped their target price on shares of Cargojet from $125.00 to $130.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $135.40.

The firm’s 50 day moving average price is $99.28 and its two-hundred day moving average price is $85.22.

About Cargojet (OTCMKTS:CGJTF)

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo co-load network between 15 cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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