UBS Starts Canadian Pacific Railway Limited (CP) at Buy

UBS initiated coverage on Canadian Pacific Railway Limited (NYSE: CP) with a Buy rating and a price target of C$263.

Analyst Thomas Wadewitz said, "At their Oct. 2 analyst meeting CP laid out their four year plan through 2018 which included a target of doubling earnings to ~C$17.00/share. In light of the improvement in performance that CP has delivered over the past two years, we believe they have earned a high degree of confidence in their ability to execute on their plan. Our analysis indicates that CP has room for upside as we forecast C$20.50/share in 2018. CP stock reflects high expectations but we believe that the multi-year revenue and productivity stories are so powerful that they are likely to continue outpacing these expectations, driving upside for the stock."

For an analyst ratings summary and ratings history on Canadian Pacific Railway Limited click here. For more ratings news on Canadian Pacific Railway Limited click here.

Shares of Canadian Pacific Railway Limited closed at $184.97 yesterday.

You May Also Be Interested In

• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
• Lockheed Martin (LMT) PT Raised to $487 at Deutsche Bank
• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'