UPDATE: Jefferies Raises PT to $72 on Canadian Pacific Railway Limited
Jefferies increases its price target on Hold-rated Canadian Pacific Railway Limited (NYSE: CP) from $69 following a positive pre-announcement to Q1 results.
Jefferies notes, "CP guided 1Q EPS roughly 28% above consensus at the mid-point on better operating performance and topline growth. We raised our estimates to reflect better near-term performance, although we believe the stock already discounts an intermediate term 70%-72% operating ratio."
CP closed at $74.86 on Tuesday.
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