The Globe and Mail reports in its Friday, Sept. 19, edition that National Bank Financial analyst Cameron Doerksen has reaffirmed his "outperform" recommendation for Canadian Pacific Kansas City. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen gave his share target a $5 boost to $124. Analysts on average target the shares at $122.37. Mr. Doerksen continues to prefer CP over CN. Mr. Doerksen says in a note: "With Q3 to-date RTMs up 5.3 per cent, CPKC is outperforming CN volume growth (0.1 per cent), a trend we expect to continue through Q4. Indeed, driven by new business wins and synergy-related gains, we expect CPKC volume growth will be higher than CN in 2026 and 2027 as well. ... On our updated 2025 CPKC EPS estimate, CPKC shares are trading at 21.9 times P/E [price-to-earnings], which is a modest premium to the U.S. peer group, but no longer the richest valuation among the Class I railroads. With still strong organic growth prospects, we see CPKC as more compelling for rail investors looking to avoid the noise and risks around the merger regulatory process between UNP and NSC that is likely to persist into 2027."