CIBC analyst Kevin Chiang maintained a Buy rating on Canadian Pacific (CP) yesterday and set a price target of $325.00. The company’s shares closed last Monday at $219.49.
Chiang has an average return of 2.9% when recommending Canadian Pacific.
According to TipRanks.com, Chiang is ranked #341 out of 5575 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Canadian Pacific with a $264.10 average price target, implying a 20.3% upside from current levels. In a report issued on October 8, Merrill Lynch also maintained a Buy rating on the stock with a $240.00 price target.
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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 $541 million. In comparison, last year the company had a net profit of $476 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.
