01:47 PM EST, 02/18/2025 (MT Newswires) -- National Bank has kept its Outperform rating on Cargojet ( CGJTF ) but trimmed its target to $147 (from $151)

following the release of fourth-quarter results that were ahead of forecast.

Although Cargojet ( CGJTF ) will face some cost headwinds and a heavier year of capex in 2025, the outlook for growth remains constructive, boosted by growth from the contract signed last year supporting e-commerce volumes between China and Canada, new ACMI opportunities and greater flexibility to pursue ad hoc charter business, analyst Cameron Doerksen writes.

"The current valuation of 6.6x EV/EBITDA based on our updated 2025 forecast also looks attractive, especially when compared to the historical forward average for the stock of 10.9x."

Price: 110.63, Change: +1.50, Percent Change: +1.37