Scotiabank Lowers Canadian Pacific Kansas City (TSE:CP) Price Target to C$119.00

Key Points

• Scotiabank has reduced its price target for **Canadian Pacific Kansas City** from C$122.00 to **C$119.00**, while maintaining an "outperform" rating, suggesting a potential upside of **9.87%** from the stock's previous close.
• Other firms have also revised their price targets recently, with Desjardins lowering theirs to **C$123.00**, while Raymond James raised it to **C$120.00**, reflecting mixed analysts' views on the stock.
• The Canadian Pacific Kansas City stock rose by **2.3%** on Friday, trading at approximately **C$108.31**, with a market capitalization of **C$99.43 billion** and a 12-month price range between **C$94.60 and C$118.80**.

Canadian Pacific Kansas City (TSE:CP - Get Free Report) NYSE: CP had its price target reduced by Scotiabank from C$122.00 to C$119.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 9.87% from the stock's previous close.

CP has been the topic of several other research reports. Desjardins lowered their price objective 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, 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 report on Thursday, July 17th. CIBC cut their price objective on Canadian Pacific Kansas City from C$124.00 to C$122.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Sanford C. Bernstein boosted their price objective on shares of Canadian Pacific Kansas City from C$120.00 to C$121.00 in a research report on Tuesday. Finally, TD Securities increased their target price on Canadian Pacific Kansas City from C$117.00 to C$118.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$119.54.

Canadian Pacific Kansas City Stock Up 2.3%

TSE CP traded up C$2.41 during trading hours on Friday, reaching C$108.31. 942,606 shares of the company traded hands, compared to its average volume of 1,624,252. The stock has a market capitalization of C$99.43 billion, a PE ratio of 24.12, a PEG ratio of 2.32 and a beta of 1.08. The company has a 50 day moving average of C$103.81 and a two-hundred day moving average of C$105.65. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 49.64. Canadian Pacific Kansas City has a 12 month low of C$94.60 and a 12 month high of C$118.80.

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.

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