Canadian Pacific Kansas City price target raised to C$128 from C$124 at RBC Capital

RBC Capital raised the firm’s price target on Canadian Pacific Kansas City (CP) to C$128 from C$124 and keeps an Outperform rating on the shares. The company reported solid Q4 and strong guide, while the upside opportunity from its growth proposition reinforces RBC’s “high conviction” on the stock, the analyst tells investors in a research note. With strong operating momentum going into 2025, as well as easy comps and idiosyncratic growth opportunities, Canadian Pacific remains the firm’s “top idea” in railroads, RBC added.