Canadian Pacific Kansas City price target lowered to $79 from $85 at Stifel

Stifel analyst Benjamin Nolan lowered the firm’s price target on Canadian Pacific Kansas City (CP) to $79 from $85 and keeps a Hold rating on the shares. Carload volumes in Q1 were “a little mixed by operator, but generally not terrible,” the analyst tells investors in a preview for the rail group. Generally, the firm is expecting results in line with to slightly lower than its had previously anticipated, but adds that “the elephant in the room has nothing do to with 1Q, and everything to do with DC.”