Evercore ISI Removes Tactical Underperform on Canadian Pacific Railway Limited (CP)

Evercore ISI analyst Jonathan Chappell reiterated an Outperform rating and $84.00 price target on Canadian Pacific Railway Limited (NYSE: CP).

The analyst comments "For our part, although we had already assumed the imminent closing of the merger, and our working model incorporates our views of the combined entity and forecasted synergies beginning on April 1, we had retained CP on Evercore ISI’s Tactical Underperform list in the highly unlikely outcome that the STB would not approve the merger and the potential binary outcome. With this nuclear option off the table, we now remove CP from that list and move forward with our Outperform rating and US$84 price target."

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 $72.98 yesterday.

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