Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) had its target price raised by equities research analysts at Bank of America Corporation from $190.00 to $193.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 18.85% from the stock’s current price.

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Loop Capital cut their target price on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a research note on Monday, April 24th. Cowen and Company reissued an “outperform” rating and set a $172.00 target price (down from $173.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, April 23rd. Credit Suisse Group reissued an “outperform” rating and set a $178.00 target price (up from $171.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 28th. Finally, Citigroup Inc. reissued a “buy” rating and set a $180.00 target price (up from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 14th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $187.56.

Canadian Pacific Railway Limited (NYSE CP) traded up 0.43% during midday trading on Thursday, hitting $162.39. The stock had a trading volume of 1,281,996 shares. Canadian Pacific Railway Limited has a one year low of $139.29 and a one year high of $167.52. The firm has a 50 day moving average price of $159.20 and a 200 day moving average price of $152.86. The stock has a market cap of $23.82 billion, a PE ratio of 20.67 and a beta of 1.11.

Canadian Pacific Railway Limited announced that its Board of Directors has initiated a share buyback program on Wednesday, May 10th that allows the company to repurchase 4,380,000 shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: “Bank of America Corporation Increases Canadian Pacific Railway Limited (NYSE:CP) Price Target to $193.00” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/07/20/bank-of-america-corporation-increases-canadian-pacific-railway-limited-nysecp-price-target-to-193-00.html.

A number of large investors have recently modified their holdings of CP. Candriam Luxembourg S.C.A. boosted its stake in Canadian Pacific Railway Limited by 21.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 3,701 shares of the transportation company’s stock worth $542,000 after buying an additional 645 shares during the period. Reliance Trust Co. of Delaware boosted its stake in Canadian Pacific Railway Limited by 17.5% in the first quarter. Reliance Trust Co. of Delaware now owns 4,825 shares of the transportation company’s stock worth $709,000 after buying an additional 720 shares during the period. Viking Fund Management LLC boosted its stake in Canadian Pacific Railway Limited by 5.3% in the first quarter. Viking Fund Management LLC now owns 100,000 shares of the transportation company’s stock worth $14,692,000 after buying an additional 5,000 shares during the period. Skylands Capital LLC boosted its stake in Canadian Pacific Railway Limited by 124.3% in the first quarter. Skylands Capital LLC now owns 24,000 shares of the transportation company’s stock worth $3,526,000 after buying an additional 13,300 shares during the period. Finally, Beutel Goodman & Co Ltd. boosted its stake in Canadian Pacific Railway Limited by 4.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 1,603,202 shares of the transportation company’s stock worth $235,105,000 after buying an additional 68,085 shares during the period. Hedge funds and other institutional investors own 70.18% of the company’s stock.

About Canadian Pacific Railway Limited

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.

Analyst Recommendations for Canadian Pacific Railway Limited (NYSE:CP)

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