Evercore analyst Jonathan Chappell maintains $Canadian Pacific Railway (CP.US)$ with a buy rating, and adjusts the target price from $89 to $91.
According to TipRanks data, the analyst has a success rate of 68.0% and a total average return of 20.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Canadian Pacific Railway (CP.US)$'s main analysts recently are as follows:
The firm anticipates that the third-quarter transportation results may be slightly softer than previous expectations due to persistently soft industrial demand. Despite this, the prospect of enhanced North American import activity and a potential reduction in trucking capacity could create a more advantageous environment for investors looking ahead to 2025 forecasts. It is noted that transportation fundamentals present a varied picture and are currently behind in terms of pricing results due to surplus trucking capacity. However, there are perceived opportunities within the railroad and less-than-truckload carrier sectors.
For the rail sector, there is a general reduction in Q3 earnings per share forecasts, influenced by weaker yields and a subdued macroeconomic environment, particularly concerning the trucking and broader transportation market. This has prompted a revision of earnings predictions for 2025 as well. Furthermore, there are adjustments to projected valuations based on the updated 2025 earnings estimates and slight changes to the comparative target multiples.
Note:
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