Barclays Maintains an 'Overweight' on Canadian Pacific (CP); Update on Strike

Barclays maintains an 'Overweight' on Canadian Pacific Railway Limited (NYSE: CP) price target of $92.00.

Analyst, Brandon R. Oglenski, said, "With a material portion of Canadian freight rail capacity offline, we expect significant political pressure will drive an end to the strike in a matter of days. If history is a guide, we expect minimal financial impact for CP, assuming the matter is resolved quickly."

"With Canadian operations representing around 85% of CP revenue, we expect a full week of halted operations would cost the company roughly (18c) in EPS over the near term, or 15% of our current 2Q estimate. Although, we note the company is likely to make up some of the lost business in the post-strike period."

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 $73.26 yesterday.

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