Wells Fargo Maintains Overweight Rating for Canadian Pacific Railway: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Canadian Pacific Railway CP and raise its price target from $81.00 to $85.00.

Shares of Canadian Pacific Railway are trading up 0.47% over the last 24 hours, at $73.52 per share.

A move to $85.00 would account for a 15.62% 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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This article was generated by Benzinga's automated content engine and reviewed by an editor.