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

Key Points

• Scotiabank raised its target price for Canadian Pacific Kansas City (TSE:CP) from C$120.00 to C$122.00, indicating a potential increase of 19.47% from its current stock price.
• Despite the optimism from Scotiabank, Canadian Pacific Kansas City shares declined by 2.6% during midday trading, reaching a value of C$102.12.
• Insider trading activity included the sale of 343,599 shares by executives, totaling approximately C$38 million in value over the past ninety days.

Canadian Pacific Kansas City (TSE:CP - Get Free Report) NYSE: CP had its price objective boosted by stock analysts at Scotiabank from C$120.00 to C$122.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's target price indicates a potential upside of 21.32% from the stock's previous close.

A number of other research analysts have also recently weighed in on CP. Desjardins lowered their target price on shares of Canadian Pacific Kansas City from C$124.00 to C$123.00 and set a "buy" rating on the stock in a research note on Thursday. TD Securities lifted their target price 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. UBS Group boosted their price target on shares of Canadian Pacific Kansas City from C$113.00 to C$116.00 in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Canadian Pacific Kansas City from C$125.00 to C$131.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Royal Bank Of Canada decreased their price target on shares of Canadian Pacific Kansas City from C$122.00 to C$121.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$119.46.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock traded down C$1.34 on Thursday, hitting C$100.56. 1,609,193 shares of the company's stock were exchanged, compared to its average volume of 1,617,576. The company has a 50-day simple moving average of C$109.20 and a 200-day simple moving average of C$107.74. The stock has a market capitalization of C$93.99 billion, a PE ratio of 26.55, a PEG ratio of 2.32 and a beta of 0.79. Canadian Pacific Kansas City has a 1 year low of C$94.60 and a 1 year high of C$119.20. The company has a debt-to-equity ratio of 49.64, a quick ratio of 0.42 and a current ratio of 0.53.

Insider Buying and Selling

In other news, Senior Officer Cassandra P. Quach sold 7,946 shares of the company's stock in a transaction that occurred on Thursday, June 19th. The shares were sold at an average price of C$111.00, for a total value of C$882,006.00. Also, Senior Officer James Dominic Luther Clements sold 15,971 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of C$113.33, for a total transaction of C$1,809,927.95. Insiders sold 343,599 shares of company stock worth $38,107,437 over the last 90 days. Corporate insiders own 0.03% of the company's stock.

Canadian Pacific Kansas City Company Profile

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.