2024-02-01 08:44:29 ET
Summary
- Canadian freight operator Cargojet's stock is a speculative buy, with revenue returning to growth in 2024.
- Despite current headwinds, long-term benefits and a depressed valuation make the shares appealing, especially as much of the bad news is already factored into the $120 Canadian share price.
- Cargojet is well-positioned to weather economic storms with reasonable debt, available borrowings, and the potential to fund short-term operations at a loss without diluting shareholders.
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Cargojet: Valuation Fully Reset