Canadian Pacific Kansas City price target lowered to C$128 from C$133 at RBC Capital

RBC Capital analyst Walter Spracklin lowered the firm’s price target on Canadian Pacific Kansas City to C$128 from C$133 and keeps an Outperform rating on the shares. The company reduced its 2023 EPS growth guidance from up mid-single-digits to “flat to slightly positive”, but while this was a negative, consensus was already there at 2023 EPS growth of expected 0.7% going into the print, the analyst tells investors in a research note. The firm adds that the share price reaction is likely to be “muted”.