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 target price boosted by research analysts at Scotiabank from C$120.00 to C$122.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 19.47% from the stock's current price.

A number of other equities research analysts also recently commented on CP. Desjardins lowered their price target on shares of Canadian Pacific Kansas City from C$124.00 to C$123.00 and set a "buy" rating for the company in a report on Thursday. Royal Bank Of Canada lowered their price target on shares of Canadian Pacific Kansas City from C$122.00 to C$121.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. National Bankshares raised shares of Canadian Pacific Kansas City from a "sector perform" rating to an "outperform" rating and set a C$119.00 target price on the stock in a research report on Thursday. The Goldman Sachs Group cut shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their target price 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 report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$119.46.

Canadian Pacific Kansas City Trading Down 2.6%

Shares of TSE CP traded down C$2.71 during midday trading on Thursday, reaching C$102.12. 1,717,309 shares of the stock were exchanged, compared to its average volume of 1,607,611. The company has a market capitalization of C$95.45 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.32 and a beta of 0.79. Canadian Pacific Kansas City has a 52-week low of C$94.60 and a 52-week high of C$119.20. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 49.64. The stock has a 50 day moving average price of C$109.58 and a 200-day moving average price of C$107.80.

Insider Transactions at Canadian Pacific Kansas City

In other Canadian Pacific Kansas City news, Senior Officer Keith E. Creel sold 170,227 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$110.59, for a total transaction of C$18,825,910.53. Also, Senior Officer Nadeem Velani sold 60,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of C$110.30, for a total transaction of C$6,618,006.00. Insiders sold a total of 343,599 shares of company stock valued at $38,107,437 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

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.

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