Canadian Pacific Railway Limited Upgraded to Outperform by Credit Suisse (CP)
Canadian Pacific Railway Limited (NYSE:CP) was upgraded by equities researchers at Credit Suisse from a “neutral” rating to an “outperform” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $144.00 price target on the stock, up from their previous price target of $139.00. Credit Suisse’s price objective indicates a potential upside of 21.81% from the company’s current price.
The analysts wrote, “We are upgrading CP to Outperform (from Neutral). Although CP is largely a ‘cost story’, we believe that the company is also well positioned to generate solid gains on the top line. Specifically, CP stands to benefit from 1) secular tailwinds related to evolving supply chains/logistics within N. American energy mkts; 2) improvement in core pricing gains; and 3) a new revenue stream that should arise from a lower cost business model. Based on our valuation analysis, we see ~40% upside and <10% downside risk in the stock.”
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated an “underperform” rating on shares of Canadian Pacific Railway Limited in a research note to investors on Thursday, July 25th. Separately, analysts at Scotiabank upgraded shares of Canadian Pacific Railway Limited from a “sector perform” rating to an “outperform” rating in a research note to investors on Thursday, July 25th. Finally, analysts at National Bank Financial upgraded shares of Canadian Pacific Railway Limited from an “underperform” rating to a “sector perform” rating in a research note to investors on Thursday, July 25th. They now have a $126.00 price target on the stock, up previously from $120.00.
Three analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Canadian Pacific Railway Limited currently has an average rating of “Hold” and a consensus target price of $123.00.
Canadian Pacific Railway Limited (NYSE:CP) traded up 2.55% on Thursday, hitting $121.23. 382,249 shares of the company’s stock traded hands. Canadian Pacific Railway Limited has a 52-week low of $80.02 and a 52-week high of $139.99. The stock has a 50-day moving average of $124.1 and a 200-day moving average of $124.. The company has a market cap of $21.230 billion and a P/E ratio of 28.73.
Canadian Pacific Railway Limited (NYSE:CP) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.43 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.51 by $0.08. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company posted $0.60 earnings per share. Canadian Pacific Railway Limited’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Canadian Pacific Railway Limited will post $6.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.34 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, September 25th.
Canadian Pacific Railway Limited (NYSE:CP) has 14,700-mile network serving the principal business centres of Canada, from Montreal to Vancouver, British Columbia and the United States Midwest and Northeast regions.
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