Canadian Pacific Railway upgraded to "outperform"

08/26/09 - RBC Capital Markets

NEW YORK, August 26 (newratings.com) - Analysts at RBC Capital Markets upgrade Canadian Pacific Railway (PC8) from "sector perform" to "outperform." The target price has been raised from $49 to $67.

In a research note published this morning, the analysts mention that a shift to a normalized operating environment is expected to result in significant operating leverage in the near future. Canadian Pacific Railway’s growth prospects are expected to be driven by its continued cost saving initiatives and strong industry fundamentals, the analysts add.