Canadian Pacific Railway Limited Receives Neutral Rating from Zacks (CP)
Canadian Pacific Railway Limited (NYSE:CP)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Tuesday, Analyst Ratings.Net reports. They currently have a $157.00 target price on the stock. Zacks‘ target price would suggest a potential upside of 5.15% from the stock’s previous close.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Canadian Pacific Railway. The company remains focused on volume expansion, operational efficiency, pricing revision and network capability upgrade. We believe that strength in Intermodal, Grain and Fertilizer segments will lead to higher revenues and earnings in the coming quarters. With the Industrial and Automotive segments looking bright, we expect these to counterbalance the weak outlook on the coal business. Substitution of coal with natural gas will continue to affect the company’s coal shipments. Canadian Pacific’s global operations also face uncertainties with labor issues, commodity risks related to the purchase of diesel fuel, competition from other Canadian and U.S. firms and currency fluctuations. We expect the company to perform at par with the broader market in the coming months.”
Shares of Canadian Pacific Railway Limited (NYSE:CP) traded down 0.11% during mid-day trading on Tuesday, hitting $149.15. 213,073 shares of the company’s stock traded hands. Canadian Pacific Railway Limited has a 1-year low of $109.64 and a 1-year high of $156.96. The stock’s 50-day moving average is $151.0 and its 200-day moving average is $135.2. The company has a market cap of $26.135 billion and a price-to-earnings ratio of 31.94.
A number of other analysts have also recently weighed in on CP. Analysts at CIBC reiterated a “hold” rating on shares of Canadian Pacific Railway Limited in a research note to investors on Thursday, October 24th. They now have a $126.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Canadian Pacific Railway Limited from $152.00 to $164.00 in a research note to investors on Thursday, October 24th. They now have an “overweight” rating on the stock. Finally, analysts at Salman Partners upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research note to investors on Thursday, October 24th. They now have a $167.00 price target on the stock, up previously from $136.00. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Canadian Pacific Railway Limited currently has an average rating of “Hold” and an average price target of $133.53.
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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