As previously reported, Scotiabank upgraded Canadian Pacific Kansas City (CP) to Outperform from Sector Perform with a price target of C$130, up from C$124. Despite ongoing freight uncertainties, the firm is getting more constructive on the space due to attractive valuations in some cases or catalysts in others, noting that it is also upgrading shares partly reflecting their recent underperformance. The firm also upgraded Canadian National (CNI) to Outperform on the same grounds.
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Read More on CP:
- Canadian Pacific Kansas City price target raised to C$123 from C$121 at JPMorgan
- Canadian Pacific Kansas City resumed with an Equal Weight at Stephens
- Canadian Pacific price target raised to $89.06 from $88.50 at Bernstein
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