What’s Canadian Pacific Railway Limited (CP) Upside After Forming Double Top Pattern?

March 11, 2018 - By Nellie Frank

The chart of Canadian Pacific Railway Limited (CP) shows a double top with $193.61 target or 7.00 % above today’s $180.94 share price. The 7 months chart pattern indicates low risk for the $26.45B company. It was reported on Mar, 11 by Finviz.com. If the $193.61 price target is reached, the company will be worth $1.85B more. Double tops are rare but powerful chart patterns.

The stock increased 1.45% or $2.59 during the last trading session, reaching $180.94. About 358,614 shares traded. Canadian Pacific Railway Limited (NYSE:CP) has risen 21.39% since March 11, 2017 and is uptrending. It has outperformed by 4.69% the S&P500.

Analysts await Canadian Pacific Railway Limited (NYSE:CP) to report earnings on April, 18. They expect $2.31 earnings per share, up 21.58 % or $0.41 from last year’s $1.9 per share. CP’s profit will be $337.65 million for 19.58 P/E if the $2.31 EPS becomes a reality. After $2.54 actual earnings per share reported by Canadian Pacific Railway Limited for the previous quarter, Wall Street now forecasts -9.06 % negative EPS growth.

Canadian Pacific Railway Limited (NYSE:CP) Ratings Coverage

Among 28 analysts covering Canadian Pacific (NYSE:CP), 20 have Buy rating, 0 Sell and 8 Hold. Therefore 71% are positive. Canadian Pacific had 71 analyst reports since September 30, 2015 according to SRatingsIntel. The stock has “Buy” rating by Stifel Nicolaus on Friday, December 16. Stifel Nicolaus maintained Canadian Pacific Railway Limited (NYSE:CP) on Wednesday, June 28 with “Buy” rating. Stifel Nicolaus maintained it with “Buy” rating and $18400 target in Tuesday, July 11 report. The firm earned “Outperform” rating on Friday, January 22 by Credit Suisse. The company was initiated on Monday, October 24 by Seaport Global. The stock of Canadian Pacific Railway Limited (NYSE:CP) has “Overweight” rating given on Monday, April 11 by Barclays Capital. Cowen & Co maintained Canadian Pacific Railway Limited (NYSE:CP) rating on Friday, July 28. Cowen & Co has “Buy” rating and $17200 target. The stock of Canadian Pacific Railway Limited (NYSE:CP) earned “Overweight” rating by Morgan Stanley on Tuesday, July 25. The rating was downgraded by Desjardins Securities to “Hold” on Thursday, April 21. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, June 23 report.

More notable recent Canadian Pacific Railway Limited (NYSE:CP) news were published by: Fool.ca which released: “Canadian Pacific Railway Limited Posts Strong Q3 Results, Raises Outlook: Buy Now?” on October 18, 2017, also Fool.ca with their article: “Time to Throw in the Towel at Canadian Pacific Railway Limited?” published on September 01, 2017, Seekingalpha.com published: “‘Triple Threat’ Could Send Canadian Pacific Railway Limited Higher” on January 16, 2018. More interesting news about Canadian Pacific Railway Limited (NYSE:CP) were released by: Fool.ca and their article: “Which Is the Better Buy: Canadian Pacific Railway Limited or Canadian National …” published on January 26, 2018 as well as Investorplace.com‘s news article titled: “3 Stocks to Watch on Friday: Canadian Pacific Railway Limited (USA) (CP …” with publication date: January 19, 2018.

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