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Stock Market & Financial Investment News

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April 2, 2014
05:08 EDTCPCanadian Pacific COO addresses Agriculture Committee hearing on Bill C-30
Canadian Pacific's president and COO Keith Creel provided his comments on Bill C-30 to the Standing Committee on Agriculture. Creel encouraged the Committee to consider the serious capacity constraints within the current grain supply chain and highlighted that interswitching would worsen the situation for the movement of Canadian grain to markets. "The reality is the current grain supply chain, of which rail is only one component, cannot move these extraordinary volumes over this short period of time," said Creel. "We need solutions that will increase throughput of grain from farm to ship." Creel also addressed CP's operating performance this crop year. CP moved record grain volumes last fall which was later impacted by the extraordinary cold temperatures in December and January. With the improved weather, the railway has regained momentum, moving 15% more Western Canadian grain in February and 20% more in March than the previous year. With respect to the proposed extended interswitching, Creel expressed concerns with its potentially damaging unintended consequences and how it would slow down the grain supply chain due to increased handlings, further constraining capacity. He noted that allowing grain to be interswitched to U.S railroads could also potentially lead to a negative impact on the Canadian economy. CP is asking all supply chain partners to engage in a collaborative dialogue to find immediate solutions which will create longer term capacity in the grain supply chain.
News For CP From The Last 14 Days
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December 17, 2014
13:02 EDTCPCanadian Pacific in agreement with TSB incident report on Bonnybrook Bridge
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December 12, 2014
10:41 EDTCPHigh option volume stocks:
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10:01 EDTCPOn The Fly: Analyst Upgrade Summary
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07:22 EDTCPCanadian Pacific upgraded to Buy from Neutral at Buckingham
Buckingham upgraded Canadian Pacific to Buy based on continued visibility for near-term crude growth and the positive impact from a lower Canadian dollar that will offset weaker long-term crude by rail growth. Price target is $209.
December 8, 2014
10:00 EDTCPOn The Fly: Analyst Downgrade Summary
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05:40 EDTCPCanadian Pacific downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Canadian Pacific Railway to Neutral saying uncertainty around lower oil prices should drive a reduced multiple for shares. Goldman cut its price target for the rail operator to $202 from $223, but points out the company's crude business has yet to be impacted from lower oil prices. CP shares closed Friday down $2.57 to $191.58.

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