Goldman Sachs Resumes Canadian Pacific Railway Limited (CP) at Conviction Buy

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Goldman Sachs resumes coverage on Canadian Pacific Railway Limited (NYSE: CP) with a Conviction Buy rating and C$86 target.

The firm calls CP an "operational improvement stock with one of the industry's most successful executives recently hired as the new CEO (Hunter Harrison)"

"Significant returns in rail investing can be made on operational turnaround stories in which analysts and investors consistently underestimate the earnings power that a more efficient network can unlock," they also state.

For an analyst ratings summary and ratings history on Canadian Pacific Railway Limited click here. For more ratings news on Canadian Pacific Railway Limited click here.

Shares of Canadian Pacific Railway Limited closed at $72.16 yesterday, with a 52 week range of $44.74-$79.91.

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