Scotiabank Believes Canadian Pacific Railway (TSX: CP) Still Has Room to Grow

By Carrie Williams

Wall Street analyst has provided a review for the Services company yesterday, but retained the same rating on the stock. Scotiabank’s analyst Turan Quettawala reiterates their Buy rating on the shares of Canadian Pacific Railway (TSX: CP), with a C$250 price target.

According to, Quettawala is a 3-star analyst with an average return of 2.3% and a 61.8% success rate. Quettawala covers the Services sector, focusing on stocks such as Union Pacific Corp, Canadian Railway, and Canadian Pacific.

Currently, the analyst consensus on Canadian Pacific Railway is Strong Buy and the average price target is C$245.83, representing a 7.6% upside.

In a report issued on January 3, CIBC also reiterated a Buy rating on the stock.

The company has a one-year high of C$234.97 and a one-year low of C$188.36. Currently, Canadian Pacific Railway has an average volume of 319.2K.

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 Friday at C$228.51, close to its 52-week high of C$234.97.