As previously reported, Susquehanna analyst Bascome Majors upgraded Canadian Pacific Kansas City (CP) to Positive from Neutral with a price target of $92, down from $94. The market’s awakening to Trump’s chance to win on November 5 has weighed on the NAFTA/USMCA-levered company and shares are down 6% on cross-border regulatory fears, underperforming other rails, the XLI and S&P over the last three weeks, the analyst tells investors. However, near-term headline risk creates a long-term opportunity to own what the firm sees as “the best growth story in rails at a fair price,” the analyst added.
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Read More on CP:
- Canadian Pacific Kansas City upgraded to Positive from Neutral at Susquehanna
- Canadian Pacific Kansas City price target lowered to $91 from $94 at BofA
- Canadian Pacific Kansas City Reports Strong Q3 Results
- Canadian Pacific Kansas City reports Q3 adjusted EPS C0.99c vs. C0.92c last year
- Canadian Pacific Kansas City sees FY24 adjusted EPS up double digits vs. FY23