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Canadian Pacific Railway Ltd
Symbol CP
Shares Issued 139,845,593
Close 2019-07-17 C$ 319.18
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Globe says Canadian Pacific seen as "fairly valued"

2019-07-18 07:44 ET - In the News

The Globe and Mail reports in its Thursday, July 18, edition that Desjardins analyst Benoit Poirier continues to rate Canadian Pacific Railway ($319.18) "hold." The Globe's Stefanie Marotta writes in the Eye On Equities column that Mr. Poirier elevated his share target to $330 from $319. Analysts on average target the shares at $329. CP posted better-than-expected second quarter results and Mr. Poirier is confident it will continue to perform. Mr. Poirier says in a note: "While results were strong and management remains upbeat, CP will be facing tougher comparisons in the second half, suggesting more moderate volume growth. Nevertheless, we remain confident in management's ability to achieve its double-digit adjusted diluted earnings per share growth target for 2019 (we forecast more than 15 per cent). CBR carloads grew sequentially by 47 per cent to 25,000 carloads. Management is confident it can reach 30,000 per quarter in the second half of 2019, with further upside assuming a deal between the Alberta government and oil producers is unlocked (decision expected in the fourth quarter). Overall, while we continue to like CP and its growth opportunities in the long term, we believe the stock is fairly valued."

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