Dahlman Rose Maintains Hold on Canadian Pacific Railway

Dahlman Rose maintained its Hold rating on Canadian Pacific Railway CP in spite of lowering its earnings per share estimates. In a research report published today, Dahlman Rose states, "As we revise our traffic growth assumption for Canadian Pacific to a decline of 2% and account for costs associated with restoring damaged lines, we are lowering our 2Q11 EPS estimate to C$0.74 from our prior estimate of C$1.07... We continue to believe that Canadian Pacific has favorable long-term prospects, but we remain on the sidelines while we try to gain more visibility on the company's operational progress and execution." On Monday, Canadian Pacific lost 0.13% of its value to close the day at $60.82.