Canadian Pacific (CP) Receives a Buy from RBC Capital

RBC Capital analyst Walter Spracklin maintained a Buy rating on Canadian Pacific (CPResearch Report) on March 9 and set a price target of C$115.00. The company’s shares closed last Thursday at $77.79.

According to TipRanks.com, Spracklin is a 5-star analyst with an average return of 17.8% and a 63.9% success rate. Spracklin covers the Industrial Goods sector, focusing on stocks such as Andlauer Healthcare Group, Canadian National Railway, and TFI International.

Currently, the analyst consensus on Canadian Pacific is a Strong Buy with an average price target of $84.47, representing a 9.7% upside. In a report released yesterday, J.P. Morgan also initiated coverage with a Buy rating on the stock with a C$113.00 price target.

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Based on Canadian Pacific’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.04 billion and net profit of $532 million. In comparison, last year the company earned revenue of $2.01 billion and had a net profit of $802 million.

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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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