Merrill Lynch analyst Ken Hoexter maintained a Buy rating on Canadian Pacific (CP) on September 30 and set a price target of $344.00. The company’s shares closed last Wednesday at $315.45, close to its 52-week high of $327.40.
According to TipRanks.com, Hoexter is a 4-star analyst with an average return of 7.9% and a 58.4% success rate. Hoexter covers the Industrial Goods sector, focusing on stocks such as US Xpress Enterprises, Kansas City Southern, and World Fuel Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Canadian Pacific with a $336.00 average price target, a 6.0% upside from current levels. In a report issued on September 16, BMO Capital also assigned a Buy rating to the stock with a C$450.00 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 revenue of $1.79 billion and net profit of $635 million. In comparison, last year the company earned revenue of $1.98 billion and had a net profit of $618 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.
