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Cowen & Co. Believes Canadian Pacific (CP) Won’t Stop Here


In a report released today, Jason Seidl from Cowen & Co. maintained a Buy rating on Canadian Pacific (NYSE: CP), with a price target of $236. The company’s shares opened today at $220.08, close to its 52-week high of $224.19.

According to TipRanks.com, Seidl is a top 100 analyst with an average return of 19.1% and a 74.9% success rate. Seidl covers the Services sector, focusing on stocks such as Covenant Transportation Group, Expeditors International, and Echo Global Logistics.

Canadian Pacific has an analyst consensus of Strong Buy, with a price target consensus of $241.22, a 9.6% upside from current levels. In a report issued on October 5, TD Securities also upgraded the stock to Buy.

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Based on Canadian Pacific’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $338 million. In comparison, last year the company had a net profit of $407 million.

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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.