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In a report published Thursday, Credit Suisse analyst Allison M. Landry upgraded the rating on
Canadian Pacific Railway LimitedCP from Neutral to Outperform, and raised the price target from $139.00 to $144.00.
In the report, Credit Suisse noted, “We are upgrading CP to Outperform (from Neutral). Although CP is largely a 'cost story', we believe that the company is also well positioned to generate solid gains on the top line. Specifically, CP stands to benefit from 1) secular tailwinds related to evolving supply chains/logistics within N. American energy mkts; 2) improvement in core pricing gains; and 3) a new revenue stream that should arise from a lower cost business model. Based on our valuation analysis, we see ~40% upside and <10% downside risk in the stock.”
Canadian Pacific Railway Limited closed on Wednesday at $118.22.
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