Canadian Pacific Kansas City price target lowered to $90 from $92 at Susquehanna

Susquehanna lowered the firm’s price target on Canadian Pacific Kansas City (CP) to $90 from $92 and keeps a Positive rating on the shares. The firm said Rails enter 2025 like they ended 2024, with intermodal leading volume growth for most, sluggish demand in higher-value industrial business and coal, negative mix from outsized intermodal growth and lower diesel prices dragging down RPU, and sell-side consensus reflecting modest margin optimism vs. typical margin seasonality nearer-term. Susquehanna recommends the shares as tariff/Mexico headline risk creates a long-term opportunity to own the best growth story in rails at a fair price.