UPDATE: National Bank Financial Raises PT to $84 on Canadian Pacific Railway Ahead of Q3 Earnings
National Bank Financial reiterated its Sector Perform rating on Canadian Pacific Railway (NYSE: CP) but raised its price target from $81 to $84.
National Bank Financial commented, "Consensus expectations for CP imply that it will grow its revenue 7-8% annually through 2015, which would require well-above-GDP growth rates (even including annual price increases of 3-4%). Consensus EPS growth rates are for well-above 20% through 2015. These numbers are clearly baking in substantial operating improvements as well as consistent demand growth. We do not want to discount Hunter Harrison's ability to achieve these results as he has a track record of doing so, but we would prefer to see tangible progress being made before becoming overly bullish."
Canadian Pacific Railway closed at $85.57 on Tuesday.
Latest Ratings for CP
|Jan 2017||Loop Capital||Upgrades||Hold||Buy|
|Dec 2016||Stifel Nicolaus||Upgrades||Hold||Buy|
|Oct 2016||Seaport Global||Initiates Coverage On||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.