Canadian Pacific (CP) Gets a Hold Rating from National Bank
National Bank analyst Cameron Doerksen maintained a Hold rating on Canadian Pacific (CP) today and set a price target of C$433.00. The company’s shares closed last Tuesday at $307.20, close to its 52-week high of $327.40.
According to TipRanks.com, Doerksen is a 1-star analyst with an average return of -7.5% and a 53.1% success rate. Doerksen covers the Industrial Goods sector, focusing on stocks such as TFI International, Canadian Railway, and Air Canada.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Canadian Pacific with a $343.84 average price target, representing an 11.4% upside. In a report issued on October 21, Benchmark Co. also downgraded the stock to Hold.
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Based on Canadian Pacific’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.86 billion and net profit of $598 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.