In a note released Wednesday morning, Credit Suisse analyst Allison Landry lowered the price target of Canadian Pacific Railways Limited (USA) (NYSE: CP) from $265 to $262 while maintaining an Outperform rating.
Landry commented, "CP believes that crude would have to 'take a meaningful, meaningful drop for it to really be material to the point' where it would affect guidance in both the near and long-term."
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Landry noted the company has other ways of reaching its targets including growth opportunities in boxcar, chemical, and frac sand categories.
Despite the continued confidence, Landry did note Canadian Pacific reported an EPS miss in the third quarter and also had revenues 1 percent below the firm's estimates.