Canadian Pacific Kansas City Limited (CP) PT Lowered to $92 at Wolfe

Wolfe analyst Scott Group lowered the price target on Canadian Pacific Kansas City Limited (NYSE: CP) to $92.00 (from $93.00) while maintaining a Buy rating.

The analyst comments "Maintain Outperform Rating. CP is on track for its 2nd straight year of low double-digit EPS growth which remains best among the rails. Looking ahead, we expect EPS growth to accelerate next year with ramping benefits from share buybacks and hopefully fewer freight macro headwinds. So, with the stock's recent underperformance, CP is back trading below 20x our C26 EPS estimate. Rail M&A remains an overhang, but CP stands to potentially gain from possible concessions, and we believe all the rails could benefit from higher multiples with fewer rail stocks to own."

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