Canadian Pacific Kansas City price target raised to C$121 from C$112 at National Bank

National Bank raised the firm’s price target on Canadian Pacific Kansas City to C$121 from C$112 but keeps a Sector Perform rating on the shares as part of a broader research note on Canadian Railroads. Despite the muted volumes in the quarter, there are some encouraging signs, notably for intermodal, as international container imports have improved in recent months, though the expected rebound in broader freight market is already reflected in estimates, the analyst tells investors in a research note.