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Dahlman Rose has published a research report on Canadian Pacific Railway Limited
CP following solid 3Q earnings results.
In the report, Dahlman Rose writes "Canadian Pacific reported 3Q10 EPS of C$1.17, in line with our estimate and slightly above consensus estimate of C$1.16. However, the company also referenced Adjusted EPS of C$1.21 which normalizes foreign exchange and tax effects related to long-term debt. While most railroads have thrown in a little caution in their outlook for 4Q10 and 2011, we believe Canadian Pacific was again the most cautious Class I as it noted that visibility to 2011 freight demand remained limited and that the recovery continued to exhibit a good deal of volatility."
Dahlman Rose maintains its Hold rating on Canadian Pacific, which closed yesterday at $63.76.
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Posted In: Analyst ColorAnalyst Ratingscanadian pacific railway limitedDahlman RoseIndustrialsRailroads
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