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Downgrade Alert for Canadian Pacific Railway (CP)

By David Diaz

Canadian Pacific Railway (NYSE:CP) was downgraded from Strong Buy to Outperform at Raymond James today. The stock closed yesterday at $150.33 on volume of 736,000 shares, below average daily volume of 976,000.

Canadian Pacific Railway Limited is a Class 1 transcontinental railway, providing freight and intermodal services over a network in Canada and the United States. The Company's mainline network serves major Canadian ports and cities from Montreal to Vancouver, and key centers in the United States Midwest and Northeast.

In the past 52 weeks, Canadian Pacific Railway share prices have been bracketed by a low of $97.09 and a high of $197.59 and closed yesterday at $150.35, 55% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.1%.

Canadian Pacific Railway (NYSE:CP) has potential upside of 12.7% based on a current price of $150.35 and analysts' consensus price target of $169.45. The stock should find initial support at its 200-day moving average (MA) of $137.09 and further support at its 50-day MA of $134.97.

SmarTrend is tracking the current trend status for Canadian Pacific Railway and will alert subscribers who have CP in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades canadian pacific railway

Ticker(s): CP