The Globe and Mail reports in its Thursday, June 8, edition that RBC Dominion Securities analyst Walter Spracklin continues to rate Canadian Pacific Kansas City "outperform," with an unchanged share target of $122. The Globe's David Berman writes in the Eye On Equities column that Mr. Spracklin, however, lowered his profit estimates dues to decreased volume and weaker margins. He expects CP will generate a profit of 95 cents per share, down from a previous estimate of $1.12 per share. Mr. Spracklin says, "However, we point to significant potential variance surrounding near-term integration costs" following CP's merger earlier this year with Kansas City Southern Railway. Mr. Spracklin adds: "We have a highly positive view on the CP-KCS combination and believe the merits of the deal are extensive. We view the network advantage as the most compelling factor, and also view positively the increased diversification on a business and geographic basis. Finally, we view the $1-billion in announced synergies as conservative, and therefore see upside to consensus expectations." The Globe reported on May 6 that CIBC had elevated CNR to "outperformer" from "neutral." It was then worth $161.71.