As previously reported, Susquehanna downgraded Canadian Pacific Kansas City to Neutral from Positive with a price target of $90, up from $87. The firm believes the stock’s valuation “should compress back to a Canadian rail baseline” as the Kansas City merger story becomes “steady-state,” the analyst tells investors. The firm doesn’t believe rails are “spring-loaded into January,” but does finally see 2024 consensus as “rational” and expects rail sentiment to improve through 2024, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CP:
- North American rail traffic up 4.4% for the week ending December 30
- North American rail traffic up 23.3% for the week ending December 23
- Canadian Pacific Kansas City price target raised to C$112 at National Bank
- North American rail traffic up 5.7% for the week ending December 16
- Canadian Pacific Kansas City price target raised by C$8 at CIBC