Q: Any new thoughts on Cargojet? Trading at a 52 week low today.
5i Research Answer:
The Chairman of CJT was appointed to the Order of Canada, but there has been no company news. The stock is down 14% YTD. Growth has slowed a bit but a decent recovery is expected in 2025. It is economically sensitive, and the economy needs to comply here. It is small and a bit leveraged, which adds to risks. At 21X earnings we would consider it OK, but not hugely compelling right now.