Jefferies analyst Stephanie Moore lowered the firm’s price target on Canadian Pacific Kansas City (CP) to $90 from $100 and keeps a Buy rating on the shares. Near-term macro uncertainties remain top-of-mind for investors, but the firm continues to see the Class 1 rails as relatively “resilient and defensive,” adding that it views the Canadian rails as poised for outperformance within the group due to Canada-specific recovery factors.
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