Canadian Pacific (CP) Received its Third Buy in a Row


After BMO Capital and National Bank gave Canadian Pacific (NYSE: CP) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Michael Baudendistel reiterated a Buy rating on Canadian Pacific yesterday and set a price target of $227. The company’s shares opened today at $186.72.

According to TipRanks.com, Baudendistel ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.8% and a 41.0% success rate. Baudendistel covers the Industrial Goods sector, focusing on stocks such as Allison Transmission Holdings Inc, Wabash National Corp, and Freightcar America.

Currently, the analyst consensus on Canadian Pacific is a Strong Buy with an average price target of $230.33, which is a 23.4% upside from current levels. In a report released yesterday, Credit Suisse also reiterated a Buy rating on the stock with a $224 price target.

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The company has a one-year high of $224.19 and a one-year low of $166.36. Currently, Canadian Pacific has an average volume of 707K.

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Canadian Pacific Railway Ltd. engages in the provision of rail service. It offers rail and intermodal transportation services. It also transports bulk commodities, merchandise freight, and intermodal traffic. The company was founded in 1881 and is headquartered in Calgary, Canada.

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