Canadian Pacific Railway (CP) Given New C$331.00 Price Target at Royal Bank of Canada

Canadian Pacific Railway (TSE:CP) (NYSE:CP) had its target price hoisted by stock analysts at Royal Bank of Canada from C$329.00 to C$331.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 26.14% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. CIBC lifted their price objective on shares of Canadian Pacific Railway from C$300.00 to C$310.00 in a research note on Tuesday, October 9th. Desjardins lifted their price objective on shares of Canadian Pacific Railway from C$274.00 to C$311.00 in a research note on Tuesday, October 9th. Raymond James lifted their price objective on shares of Canadian Pacific Railway from C$305.00 to C$340.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 9th. TD Securities upgraded shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$290.00 to C$325.00 in a research note on Friday, October 5th. Finally, National Bank Financial lifted their price objective on shares of Canadian Pacific Railway from C$286.00 to C$303.00 and gave the company a “sector perform” rating in a research note on Friday, October 5th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$288.50.

Canadian Pacific Railway stock traded up C$1.81 during mid-day trading on Friday, reaching C$262.40. The company’s stock had a trading volume of 239,230 shares, compared to its average volume of 335,073. Canadian Pacific Railway has a 12-month low of C$212.50 and a 12-month high of C$291.56.

Canadian Pacific Railway (TSE:CP) (NYSE:CP) last released its quarterly earnings data on Wednesday, July 18th. The company reported C$3.16 earnings per share for the quarter, beating analysts’ consensus estimates of C$3.12 by C$0.04. Canadian Pacific Railway had a net margin of 89.03% and a return on equity of 101.93%. The business had revenue of C$1.75 billion during the quarter, compared to analyst estimates of C$1.74 billion.

In other Canadian Pacific Railway news, insider Justin Dale Meyer sold 1,464 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of C$267.10, for a total value of C$391,034.40. Also, insider Jeffrey Ellis sold 100 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of C$252.74, for a total transaction of C$25,274.00. Over the last three months, insiders sold 2,264 shares of company stock valued at $605,070.

Canadian Pacific Railway Company Profile

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.

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Analyst Recommendations for Canadian Pacific Railway (TSE:CP)

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