UPDATE: Credit Suisse Lowers Price Target On Canadian Pacific Railways

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In a note released Wednesday morning, Credit Suisse analyst Allison Landry lowered the price target of Canadian Pacific Railways Limited (USA) 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."

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.

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Posted In: Analyst ColorNewsPrice TargetReiterationAnalyst RatingsAllison LandryCredit Suisse
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