Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) had its target price dropped by stock analysts at Morgan Stanley from $215.00 to $214.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s target price would suggest a potential upside of 34.45% from the company’s previous close.

Other analysts also recently issued research reports about the company. Zacks Investment Research raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 target price on the stock in a research note on Wednesday, July 12th. Argus reaffirmed a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Tuesday. BidaskClub raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Cowen and Company reaffirmed an “outperform” rating and set a $172.00 target price (down previously from $173.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, April 23rd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $174.00 target price (down previously from $177.00) on shares of Canadian Pacific Railway Limited in a research note on Saturday, April 22nd. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $189.25.

Canadian Pacific Railway Limited (NYSE:CP) traded down 0.36% on Tuesday, reaching $159.17. The company’s stock had a trading volume of 564,626 shares. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52. The firm has a market capitalization of $23.25 billion, a P/E ratio of 18.06 and a beta of 1.10. The firm has a 50-day moving average price of $159.33 and a 200 day moving average price of $153.15.

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

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Large investors have recently made changes to their positions in the company. Causeway Capital Management LLC bought a new stake in shares of Canadian Pacific Railway Limited during the first quarter worth about $662,274,000. WCM Investment Management CA raised its stake in shares of Canadian Pacific Railway Limited by 5.1% in the first quarter. WCM Investment Management CA now owns 3,509,846 shares of the transportation company’s stock worth $515,667,000 after buying an additional 169,647 shares during the period. TD Asset Management Inc. raised its stake in shares of Canadian Pacific Railway Limited by 11.6% in the first quarter. TD Asset Management Inc. now owns 3,507,764 shares of the transportation company’s stock worth $513,822,000 after buying an additional 364,220 shares during the period. Vanguard Group Inc. raised its stake in shares of Canadian Pacific Railway Limited by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,080,214 shares of the transportation company’s stock worth $452,545,000 after buying an additional 146,826 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Canadian Pacific Railway Limited by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 2,505,015 shares of the transportation company’s stock worth $368,038,000 after buying an additional 647,669 shares during the period. 70.20% of the stock is currently owned by institutional investors.

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)

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