Canadian Pacific (CP) Receives a Buy from Cowen & Co.

Cowen & Co. analyst Jason Seidl reiterated a Buy rating on Canadian Pacific (CPResearch Report) yesterday and set a price target of $83.00. The company’s shares closed last Thursday at $77.60.

According to TipRanks.com, Seidl is a top 25 analyst with an average return of 26.0% and a 72.5% success rate. Seidl covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, Expeditors International, and Covenant Logistics Group.

Canadian Pacific has an analyst consensus of Moderate Buy, with a price target consensus of $80.95, implying a 5.4% upside from current levels. In a report issued on July 15, Wells Fargo also maintained a Buy rating on the stock with a $83.00 price target.

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Based on Canadian Pacific’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.84 billion and net profit of $590 million. In comparison, last year the company earned revenue of $1.96 billion and had a net profit of $602 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1881, Canadian Pacific Railway Ltd. provides rail services in Canada and the United States. It offers rail and intermodal transportation services and also transports bulk commodities, merchandise freight, and intermodal traffic.

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