Canadian Pacific Railway (CP) Rating Increased to Outperform at National Bank Financial

Canadian Pacific Railway (TSE:CP) (NYSE:CP) was upgraded by investment analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued on Friday. The brokerage currently has a C$303.00 price objective on the stock. National Bank Financial’s price objective points to a potential upside of 16.04% from the stock’s previous close. National Bank Financial also issued estimates for Canadian Pacific Railway’s Q4 2018 earnings at $3.93 EPS, FY2018 earnings at $13.91 EPS, Q1 2019 earnings at $3.35 EPS, Q2 2019 earnings at $3.81 EPS, Q4 2019 earnings at $4.46 EPS and FY2020 earnings at $17.77 EPS.

Several other research firms also recently commented on CP. 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. Cormark lifted their price objective on shares of Canadian Pacific Railway from C$275.00 to C$300.00 in a research note on Thursday, September 27th. 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. BMO Capital Markets boosted their target price on shares of Canadian Pacific Railway from C$254.00 to C$265.00 in a research report on Thursday, June 28th. Finally, Royal Bank of Canada boosted their target price on shares of Canadian Pacific Railway from C$320.00 to C$329.00 and gave the company an “outperform” rating in a research report on Friday, October 5th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$288.50.

TSE:CP opened at C$261.11 on Friday. 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 posted its quarterly earnings data on Wednesday, July 18th. The company reported C$3.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of C$1.74 billion.

In other Canadian Pacific Railway news, insider Laird Joseph Pitz sold 700 shares of Canadian Pacific Railway stock in a transaction on Monday, August 27th. The shares were sold at an average price of C$269.66, for a total value of C$188,762.00. Also, insider Justin Dale Meyer sold 1,464 shares of Canadian Pacific Railway stock in a transaction on Thursday, August 30th. The shares were sold at an average price of C$267.10, for a total transaction of C$391,034.40. Insiders have sold 2,264 shares of company stock valued at $605,070 over the last 90 days.

About Canadian Pacific Railway

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.

Recommended Story: Investing strategies using the yield curve

Analyst Recommendations for Canadian Pacific Railway (TSE:CP)

Receive News & Ratings for Canadian Pacific Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply