Desjardins Believes Canadian Pacific Railway (TSX: CP) Won’t Stop Here

By Jason Carr

Wall Street analyst has provided a review for the Services company yesterday, but retained the same rating on the stock. Analyst Benoit Poirier from Desjardins rated Canadian Pacific Railway (TSX: CP) a Buy, setting a C$232 price target.

Poirier has an average return of 5.3% when recommending Canadian Pacific Railway.

According to TipRanks.com, Poirier is ranked #308 out of 4588 analysts.

Canadian Pacific Railway has an analyst consensus of Strong Buy, with a price target consensus of C$222.60.

Based on Canadian Pacific Railway’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$1.6 billion and quarterly net profit of C$431 million. In comparison, last year the company earned revenue of C$1.59 billion and had a net profit of C$540 million.

Canadian Pacific Railway Ltd. engages in the operation of transcontinental railway. It provides logistics and supply chain expertise. The company offers rail and intermodal transportation services to business centre of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the U.S. Northeast and Midwest regions.

The company’s shares closed on Tuesday at $210.17, close to its 52-week high of $218.78.