In a report issued on October 5, Justin Long from Stephens reiterated a Hold rating on Canadian Pacific (NYSE: CP), with a price target of $239. The company’s shares closed on Friday at $220.69, close to its 52-week high of $224.19.
According to TipRanks.com, Long is a 4-star analyst with an average return of 10.2% and a 69.2% success rate. Long covers the Services sector, focusing on stocks such as Kansas City Southern, Union Pacific Corp, and Genesee & Wyoming.
Currently, the analyst consensus on Canadian Pacific is a Strong Buy with an average price target of $235.56.
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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.
