Researchers at JPMorgan Increased Canadian Pacific (NYSE:CP) from “Neutral” to “Overweight” Rating

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JP Morgan Analyst Rating Change Canadian Pacific NYSE:CP

Canadian Pacific (NYSE:CP) Upgrade

JPMorgan has boosted Canadian Pacific (NYSE:CP) stock to “Overweight” in an analyst report revealed to clients on Thursday morning. CP’s old rating was “Neutral”.

The stock upgrade is welcomed by stock investors, as NYSE:CP is at the moment trading 1.86% higher at $170.51 as of 2:05 AM New York time. Canadian Pacific’s stock is 0% in the last 200 days. It has underperformed the S&P500, which has added 6.00% in the same time period.

According to data compiled by Thomson Reuters, Canadian Pacific (NYSE:CP)’s stock is covered by 22 equity analysts across the Street, with 0 analysts giving it a Sell rating, 17 a Buy rating, while 7 consider it a Hold. The 12-month consensus target price for the stock is $147.41, which reflects an downside potential of 13.55% over the current price.

CP Stock Chart

Canadian Pacific (NYSE:CP) Profile

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.

Canadian Pacific (NYSE:CP) traded up 1.86% on 12 October, hitting $170.51. A total of 188,197 shares of the company’s stock traded hands. This is down from average of 435,538 shares. Canadian Pacific has a 52 week low of $139.29 and a 52 week high of $170.53. The company has a market cap of $25.26 billion and a P/E ratio of 19.06.

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