Stifel Resumes Canadian Pacific Railway Limited (CP) at Hold

June 21, 2021 4:50 PM EDT
Get Alerts CP Hot Sheet
Price: $71.99 -0.14%

Rating Summary:
    24 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 11 | New: 19
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Stifel analyst Benjamin Nolan resumes coverage on Canadian Pacific Railway Limited (NYSE: CP) with a Hold rating and a price target of $80.00.

The analyst commented, "While there may be some risk of marginalization for Canadian Pacific if CNI is able to push through the merger with KSU, we believe the company should still be in a strong position for growth driven by agriculture, energy, materials, and minerals, with the least exposure to intermodal which we believe could be peaking. CP is the industry leader in operating ratio, have been able to significantly outperform the competition with respect to earnings growth, and consequently CP shares have been the best performer (excluding KSU) in the group over the past 1, 2, and 3 years. However, with the entire peer group trading near peak multiples and given our view that incremental improvements are likely to be harder to come by, we would wait for a slightly better entry point and are resuming coverage with a Hold rating and an $80 target price."

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 $75.93 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Stifel, Earnings, Definitive Agreement