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


Analysts have been quite happy with Canadian Pacific Railway (CP) stock lately, as another research firm gave the stock a Buy rating yesterday. The company received a Buy rating from Scotiabank’s analyst Turan Quettawala, with a C$295 price target.

According to TipRanks.com, Quettawala is a 1-star analyst with an average return of -1.6% and a 51.5% success rate. Quettawala covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Union Pacific Corp, and Canadian Railway.

Read also: Nike (NKE) Earnings: Bulls Win, What’s Next?

Canadian Pacific Railway has an analyst consensus of Strong Buy, with a price target consensus of C$311.80, which is a 27.2% upside from current levels. In a report released yesterday, TD Securities also reiterated a Buy rating on the stock with a C$305 price target.

.

Canadian Pacific Railway’s market cap is currently C$34.95B and has a P/E ratio of 14.6. The company has a Price to Book ratio of 4.90.

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 Monday at C$245.10.