RBC Capital lowered the firm’s price target on Canadian Pacific Kansas City (CP) to $121 from $122 and keeps an Outperform rating on the shares. The firm notes reported better than expected Q1/25 results. However, management reduced 2025 EPS guidance to 10%-14% from 12%-18%. Notable is that the guidance reduction comes despite Q1 having come in strong, Q2 volumes quarter-to-date strong, and management leaving its 2025 volume guide of up MSD unchanged, RBC says.
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