ATB Capital Forecasts Strong Price Appreciation for Canadian Pacific Kansas City (TSE:CP) Stock

Canadian Pacific Kansas City (TSE:CP) (NYSE:CP) had its target price lifted by ATB Capital from C$124.00 to C$125.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price objective points to a potential upside of 17.89% from the stock’s current price.

CP has been the topic of a number of other research reports. Desjardins dropped their target price on Canadian Pacific Kansas City from C$123.00 to C$120.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Raymond James Financial upped their target price on Canadian Pacific Kansas City from C$115.00 to C$120.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. National Bankshares upped their target price on Canadian Pacific Kansas City from C$119.00 to C$124.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Finally, Citigroup dropped their target price on Canadian Pacific Kansas City from C$94.00 to C$90.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Buy” and an average target price of C$119.85.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at C$106.03 on Wednesday. Canadian Pacific Kansas City has a fifty-two week low of C$94.60 and a fifty-two week high of C$118.80. The firm has a market capitalization of C$97.33 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.32 and a beta of 1.03. The company has a debt-to-equity ratio of 49.64, a quick ratio of 0.42 and a current ratio of 0.53. The stock’s 50-day simple moving average is C$104.52 and its 200-day simple moving average is C$105.88.

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.