UPDATE: National Bank Financial Maintains Sector Perform Rating, Raises PT for Canadian Pacific Railway

In a report released earlier today, National Bank Financial maintained its Sector Perform rating for Canadian Pacific Railway Limited CP, but raised its price target from $74 to $76. National Bank went on to say “The key driver for the stock is still the upcoming May 17th proxy vote. Although Q1 results and operating metrics showed impressive improvement, we do not believe they will necessarily sway the vote. As we have noted previously, we see risks to the stock in either a CP or a Pershing Square win.” Canadian Pacific Railway Limited closed on Friday at $76.95.