Citigroup Maintains Buy Rating for Canadian Pacific Railway: Here's What You Need To Know

Citigroup has decided to maintain its Buy rating of Canadian Pacific Railway CP and lower its price target from $81.00 to $79.00.

Shares of Canadian Pacific Railway are trading down 2.05% over the last 24 hours, at $67.66 per share.

A move to $79.00 would account for a 16.77% increase from the current share price.

About Canadian Pacific Railway

Canadian Pacific is a CAD 8 billion Class-1 railroad 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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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.