After Deutsche Bank and Scotiabank gave Canadian Pacific (NYSE: CP) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Walter Spracklin maintained a Buy rating on Canadian Pacific yesterday and set a price target of C$361.00. The company’s shares closed last Thursday at $209.15.
According to TipRanks.com, Spracklin is a 5-star analyst with an average return of 9.5% and a 60.6% success rate. Spracklin covers the Services sector, focusing on stocks such as TFI International, Canadian Railway, and Norfolk Southern.
Currently, the analyst consensus on Canadian Pacific is a Strong Buy with an average price target of $269.37, which is a 29.8% upside from current levels. In a report issued on March 18, Cowen & Co. also maintained a Buy rating on the stock with a $270.00 price target.
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Based on Canadian Pacific’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.07 billion and net profit of $664 million. In comparison, last year the company earned revenue of $2.01 billion and had a net profit of $545 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.
