Canadian Pacific Kansas City price target raised to C$119 at National Bank

National Bank raised the firm’s price target on Canadian Pacific Kansas City (CP) to C$119 from C$117 and keeps a Sector Perform rating on the shares following the company’s Q3 earnings report. The firm noted that Q3 results were “slightly below forecast” on both core adjusted EPS and revenue, but added that volume growth outlook is now “slightly more bullish, now expecting RTMs up mid-single digits versus low-single digits previously.”