|January 29, 2014|
|12:11 EDT||CP||Canadian Pacific looking closely on options for cash|
The company noted that it 'believes' that the pension plan no longer has a solvency deficit. Comment made on Q4 earnings call earlier.
News For CP From The Last 14 Days
|October 13, 2015|
|10:03 EDT||CP||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: AXA (AXAHY) downgraded to Neutral from Overweight at JPMorgan... Alaska Air (ALK) downgraded to Hold from Buy at Evercore ISI... American Airlines (AAL) downgraded to Hold from Buy at Evercore ISI... Arch Coal (ACI) downgraded to Underweight from Neutral at JPMorgan... Associated British Foods (ASBFY) downgraded to Neutral from Buy at Citi... CBIZ (CBZ) downgraded to Neutral from Buy at Sidoti... Canadian National (CNI) downgraded to Hold from Buy at Canaccord... Canadian Pacific (CP) downgraded to Hold from Buy at Canaccord... Columbia Pipeline Group (CPGX) downgraded to Neutral from Outperform at Credit Suisse... Companhia Brasileira downgraded to Underweight from Neutral at JPMorgan... DISH (DISH) downgraded to Buy from Conviction Buy at Goldman... EMC (EMC) downgraded to Hold from Buy at Argus... Fortune Brands (FBHS) downgraded to Equal Weight from Overweight at Barclays... HeartWare (HTWR) downgraded to Perform from Outperform at Oppenheimer... Itau Unitbanco (ITUB) downgraded to Underperform from Neutral at Credit Suisse... JetBlue (JBLU) downgraded to Neutral from Overweight at JPMorgan... KPN (KKPNY) downgraded to Neutral from Outperform at Credit Suisse... Laredo Petroleum (LPI) downgraded to Sector Perform from Outperform at Iberia... Magnum Hunter (MHR) downgraded to Reduce from Buy at SunTrust... NiSource (NI) downgraded to Neutral from Outperform at Credit Suisse... ONEOK Partners (OKS) downgraded to Neutral from Outperform at Credit Suisse... PBF Logistics (PBFX) downgraded to Neutral from Outperform at Credit Suisse... Peabody (BTU) downgraded to Underweight from Neutral at JPMorgan... PulteGroup (PHM) downgraded to Underweight from Equal Weight at Morgan Stanley... SkyWest (SKYW) downgraded to Market Perform from Outperform at Raymond James... SunCoke Energy Partners (SXCP) downgraded to Neutral from Buy at BofA/Merrill... Tesoro Logistics (TLLP) downgraded to Neutral from Outperform at Credit Suisse... UTi Worldwide (UTIW) downgraded to Market Perform from Outperform at FBR Capital... Ultratech (UTEK) downgraded on foundry spending cuts at Stifel... United Technologies (UTX) downgraded to Sector Perform from Outperform at RBC Capital... VMware (VMW) downgraded on Amazon threat at JMP Securities... ViaSat (VSAT) downgraded to Market Perform from Outperform at Wells Fargo... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Morgan Stanley.
|06:42 EDT||CP||Canadian Pacific downgraded to Hold from Buy at Canaccord|
Canaccord downgraded Canadian Pacific to Hold from Buy and lowered its price target to C$215. Analyst David Tyerman said Canadian Pacific's current valuation discounts most of the expected earnings gains over the next year and the premium valuation is not supported by discounted cash flow.
|October 1, 2015|
|09:30 EDT||CP||Rails sector upgraded to Market Weight from Market Weight at Wolfe Research|
Wolfe Research upgraded the Rails Sector to Market Overweight citing limited downside in earnings and valuations at current levels. The firm recommends investors aggressively buy rail stocks again given below market multiples and double-digit earnings growth next year. As part of the sector upgrade, the analyst raised Norfolk Southern to Outperform from Peer Perform.
|September 30, 2015|
|12:26 EDT||CP||Rails advance after Goldman says rate of volume declines improving|
Shares of railroad operators are advancing after Goldman Sachs moved its Rails coverage view to Attractive from Neutral. WHAT'S NEW: In a note to investors, Goldman Sach's Tom Kim and team said while rail volumes continue to contract, the rate of change has begun to improve and the firm sees this as an early inflection indicator. The negatives in the rail sector appear to be well known as the sector has been under "significant" selling pressure since peaking in the fourth quarter of 2014, added Goldman Sachs. The firm sees structural improvement in the profitability of the rail sector as operating margins for 2015 are estimated to have expanded to 35% from 29% in 2010. Goldman thinks the negative earnings per share revisions cycle for rails is over and that investor expectations are achievable. The firm sees earnings as a catalyst for sector performance and believes carloads will grow again in 2016 with 4% year-over-year growth in intermodal. WHAT'S NOTABLE: Kim upgraded Canadian Pacific (CP) to Buy from Neutral and reiterated its Buy rating on Union Pacific (UNP). The firm sees upside potential for Canadian National Railway (CNI), CSX (CSX), Kansas City Southern (KSU), and Norfolk Southern Corporation (NSC), but it maintained its Neutral ratings on those names as the firm expects these stocks to trade in-line with its broader Transportation coverage universe. PRICE ACTION: In afternoon trading, shares of Canadian Pacific are up nearly 3%, while Union Pacific is higher by almost 1%. CSX is advancing 2.2%, while Canadian National Railway, Kansas City Southern, and Norfolk Southern Corporation are each up over 1%.
|10:00 EDT||CP||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: Analog Devices (ADI) upgraded to Buy from Neutral at Citi... Asbury Automotive (ABG) upgraded to Neutral from Underperform at BofA/Merrill... Brookfield (BAM) upgraded to Outperform from Market Perform at BMO Capital... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Canadian Pacific (CP) upgraded to Buy from Neutral at Goldman... Citizens Financial (CFG) upgraded to Buy from Neutral at UBS... Esperion (ESPR) upgraded to Neutral from Sell at Chardan... HSBC (HSBC) upgraded to Buy from Neutral at UBS... Hecla Mining (HL) upgraded to Outperformer from Sector Performer at CIBC... Johnson Controls (JCI) upgraded to Outperform from Market Perform at William Blair... Level 3 (LVLT) upgraded to Buy from Neutral at UBS... Madison Square Garden (MSG) upgraded on asset value, share buyback outlook at Stifel... Medivation (MDVN) upgraded to Market Perform from Underperform at Cowen... PHH Corp. (PHH) upgraded to Buy from Neutral at Compass Point... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Ralph Lauren (RL) upgraded to Buy from Neutral at UBS... Regions Financial (RF) upgraded to Buy from Hold at Sandler O'Neill... Shire (SHPG) upgraded to Hold from Reduce at HSBC... Sinopec (SNP) upgraded to Buy from Hold at Jefferies... Verifone (PAY) upgraded to Buy from Hold at Argus.
|08:08 EDT||CP||Rails sector upgraded to Attractive from Neutral at Goldman|
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|07:50 EDT||CP||Canadian Pacific upgraded to Buy from Neutral at Goldman|
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|September 29, 2015|
|16:36 EDT||CP||Canadian Pacific acquires Steelcare, terms not disclosed|
Canadian Pacific has acquired Steelcare, Canada's largest steel transload facility. Steelcare is a transload and distribution hub providing superior transloading, warehousing and distribution services of steel products. Steelcare's Plant Six facility in CP's Aberdeen yard in Hamilton, Ontario, is a 168,000-square-foot facility featuring two drive-through rail and truck loading and unloading areas. Steelcare is able to handle up to 1.5M tons of rail transload product in a given year. The transaction includes TransCare Logistics Corporation, Prometheus Six Inc. and East Port Warehousing & Distribution. Projected yearly revenue as a result of the transaction is approximately $10M. The intent is to keep the current management structure and employees in place. Clements will also serve as Steelcare's Executive Vice President.