Euro Pacific Capital Starts Canadian Pacific Railway Limited (CP) at Neutral

Euro Pacific Capital initiates coverage on Canadian Pacific Railway Limited (NYSE: CP) with a Neutral rating and $61 price target.

The firm said they would like to remain on the sidelines with the stock due to recent material operational challenges during the winter months versus peers, near-term intermodal (container) market share losses, and limited volume
visibility pending the Canpotex renegotiation.

Commenting on a near-term catalyst for the stock the analyst states: "In our view, the most prominent near-term catalyst for the stock is the degree to which CP can recover a large portion of its lost international intermodal business via consistent service improvement during the upcoming winter months."

For more ratings news on Canadian Pacific Railway Limited click here and for the rating history of Canadian Pacific Railway Limited click here.

Shares of Canadian Pacific Railway Limited closed at $61.14 yesterday.

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