Canadian Pacific Kansas City price target raised to $97 from $95 at Stephens

Stephens raised the firm’s price target on Canadian Pacific Kansas City (CP) to $97 from $95 and keeps an Overweight rating on the shares following the company’s Q2 report. While the Union Pacific (UNP) and Norfolk Southern (NSC) announcement may create near-to-intermediate term “noise,” CPKC’s service is improving and core pricing and volume growth remain “strong,” says the analyst, who calls it “a compelling multi-year story.”