Sterne Agee Reiterates Neutral Rating, $110 PT on Canadian Pacific Railway
In a report published Monday, Sterne Agee reiterated its Neutral rating and $110.00 price target on Canadian Pacific Railway (NYSE: CP).
Sterne Agee noted, “Ending much speculation, this morning, CP announced that Keith Creel has joined the company as President and Chief Operating Officer, strengthening CP's senior management ranks, and lining up a likely successor to CEO Hunter Harrison down the road. Although we believe much of the EPS potential in the shares is priced into the stock at this time, CP continues to deliver better than expected news for its investors.”
Canadian Pacific Railway closed on Friday at $116.08.
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