{"id":547223,"date":"2010-04-29T10:56:00","date_gmt":"2010-04-29T14:56:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:430867"},"modified":"2010-04-29T10:56:00","modified_gmt":"2010-04-29T14:56:00","slug":"cp-rail-shares-on-the-move","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/547223","title":{"rendered":"CP Rail shares on the move"},"content":{"rendered":"<p>Shares in <a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=CP&amp;id=97394\" >Canadian Pacific Railway Ltd.<\/a> are on the move, as the Street shower&#39;s the country&#39;s second biggest railroad with praise following better-than-expected earnings results announced Wednesday.<\/p>\n<p>Back of above $60, and closing in on a new 52-week high, analysts think CP stock has plenty of upside still to come. <\/p>\n<p>&quot;We consider the strong Q1 results to be a key catalyst for the CP shares \u2013 as we believe investors had discounted CP&#39;s ability to significantly realign its cost base,&quot; Walter Spracklin, an analyst at RBC Capital Markets said in a note to clients. &nbsp; <\/p>\n<p>Mr. Spracklin maintained his Outperform rating and raised his price target to $70 from $65. <\/p>\n<p>He said he expects substantial upward earnings revisions, leaving his &quot;street-high&quot; 2011 estimate of $4.66 unchanged. <\/p>\n<p>&quot;We are increasing our target multiple on the CP shares to 15x (from 14x) on the back of the improving economy and CP&#39;s leverage to this improvement, the analyst&nbsp; wrote. <\/p>\n<p>Trading at roughly 11x his revised 2011 earnings estimate of $4.65, Raymond James analyst Steve Hansen said CP is trading at a discount to its peers. He increased his price target to $70 from $65 and reiterated his Buy rating, <\/p>\n<p>&quot;Looking forward, sustained potash and coal volumes through 2Q will continue to trounce last year\u2019s paltry comps, in our view,&quot; he told clients. <\/p>\n<p>&quot;Healthy merchandise and intermodal improvements, coupled with plenty of idle capacity still in the system, should also facilitate further operating and financial gains.&quot;<\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett<\/a> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=430867\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares in Canadian Pacific Railway Ltd. are on the move, as the Street shower&#39;s the country&#39;s second biggest railroad with praise following better-than-expected earnings results announced Wednesday. Back of above $60, and closing in on a new 52-week high, analysts think CP stock has plenty of upside still to come. &quot;We consider the strong Q1 [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-547223","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/547223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=547223"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/547223\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=547223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=547223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=547223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}