The Globe and Mail reports in its Wednesday edition that RBC analyst Walter Spracklin has reaffirmed his "outperform" call for Canadian Pacific Kansas City. The Globe's David Leeder writes that Mr. Spracklin continues to target the shares at $122. Analysts on average target the shares at $118.34. Mr. Spracklin says in a note: "An important consideration of the value of any network is its origination/destination pairings -- defined as being the amount of business where a railroad originates the haul and carries it full through to the end destination. CP has always been 'origination rich' and has now become 'destination rich,' with connection to six of the seven largest metro regions in North America. In addition, particularly favourable is the improvement in diversification that comes on both a business line basis and a geographic basis. We expect the improved network to complement what we see as a best in class management team to drive significant outperformance versus peers in the near, medium and long-term.... Our positive view on CP centers on a best-in-class railroad ahead of a transformative acquisition, which we believe will set the stage for significant growth and a material upward valuation rerate."