Barclays raised the firm’s price target on Canadian Pacific Kansas City to $90 from $84 and keeps an Overweight rating on the shares ahead of the Q4 report. The analyst says transportation equities should benefit as freight markets exit recession in early 2024. The firm expects rail and truck pricing gains to build throughout the year, leading to generally above-consensus earnings estimates across the group. Its relative preference remains in the rails as it senses investor sentiment remains subdued.
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:
- Canadian Pacific Kansas City downgraded to Neutral at Susquehanna
- Canadian Pacific Kansas City downgraded to Hold from Buy at TD Securities
- Canadian Pacific Kansas City downgraded to Neutral from Positive at Susquehanna
- 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