Jefferies Lifts Price Target on Canadian Pacific (CP) Ahead of Q4 Report, Cuts Estimates

Jefferies raised its price target on Hold-rated Canadian Pacific Railway Limited (NYSE: CP) from $61 to $68 ahead of Q4 results for the sector.

The firm see more beats than misses in 4Q as the peak shipping season proved better than feared. They see the biggest downside risk at Canadian Pacific (NYSE: CP) and Heartland Express (Nasdaq: HTLD), where they are 24% and 14% below consensus, respectively. CSX (NYSE: CSX) and Knight Transportation (NYSE: KNX) appear to set up well vs. Street estimates, they said.

The firm cut CP EPS estimates for the current quarter from $1.21 to $0.88.

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 $67.67 yesterday.

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