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Canadian Pacific Railway (CP) Got Some Good News


In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Canadian Pacific Railway (TSX: CP). Analyst Cherilyn Radbourne from TD Securities rated Canadian Pacific Railway (TSX: CP) a Buy today, setting a C$325 price target.

According to TipRanks.com, Radbourne is a 4-star analyst with an average return of 11.9% and a 72.3% success rate. Radbourne covers the Services sector, focusing on stocks such as Canadian Pacific, Norfolk Southern, and Ritchie Bros.

Read also: Why This Analyst Just Threw Cold Water on New Age Beverages (NBEV) Stock

Canadian Pacific Railway has an analyst consensus of Strong Buy, with a price target consensus of C$305.43, representing a 7.1% upside. In a report issued on September 25, Barclays also maintained a Buy rating on the stock with a C$305 price target.

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Based on Canadian Pacific Railway’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.75 billion and net profit of C$436 million. In comparison, last year the company earned revenue of C$1.6 billion and had a net profit of C$510 million.

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.

The company’s shares closed on Friday at C$285.24.