Scotiabank Issues Pessimistic Forecast for Canadian Pacific Kansas City (TSE:CP) Stock Price

Canadian Pacific Kansas City (TSE:CP) (NYSE:CP) had its price target decreased by Scotiabank from C$122.00 to C$119.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 9.91% from the company’s current price.

CP has been the topic of several other research reports. TD Securities raised their price target on shares of Canadian Pacific Kansas City from C$117.00 to C$118.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Raymond James Financial raised their price target on shares of Canadian Pacific Kansas City from C$115.00 to C$120.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. National Bankshares raised their price target on shares of Canadian Pacific Kansas City from C$119.00 to C$124.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, CIBC cut their target price on Canadian Pacific Kansas City from C$124.00 to C$122.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Buy” and a consensus price target of C$119.54.

Canadian Pacific Kansas City Price Performance

Shares of TSE:CP opened at C$108.27 on Friday. The firm’s 50 day moving average is C$103.87 and its two-hundred day moving average is C$105.66. Canadian Pacific Kansas City has a 52 week low of C$94.60 and a 52 week high of C$118.80. The firm has a market capitalization of C$99.39 billion, a P/E ratio of 24.11, a PEG ratio of 2.32 and a beta of 1.08. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 49.64.

About Canadian Pacific Kansas City

Canadian Pacific is a CAD 8 billion Class-1 railroads operating on more than 12,500 miles of track across most of Canada and into parts of the Midwestern and Northeastern United States. It is the second-smallest Class I railroad by revenue and route miles. In 2021, CP hauled shipments of grain (22% of freight revenue), intermodal containers (22%), energy products (like crude and frac sand), chemicals, and plastics (20%) coal (8%), fertilizer and potash (10%), automotive products (5%), and a diverse mix of other merchandise.