Desjardins Securities Bullish On Railways
Date: January 18, 2024
Desjardins Securities (Rank#71) has raised its targets on two prominent players in the railway sector, Canadian National Railway (CNR) and Canadian Pacific Railway (CP). This adjustment in target prices reflects a positive sentiment from Desjardins Securities towards the growth and performance of these key players in the Canadian transportation industry.
Canadian National Railway (CNR:CA)
Overview: Canadian National Railway, with a market capitalization of CAD 107.43 billion, stands as a significant force in the rail transportation sector. Desjardins Securities has not only reiterated its “Buy” rating but has also raised the target price for CNR.
Analyst Recommendations:
- Rating: Buy
- Target Price: CAD 189 (Up from the previous target of CAD 165.13)
- Market Performance: CAD 165.13 (-0.45%) at the last market close
Desjardins Securities has increased its target by approximately 14%, signaling confidence in the growth potential of Canadian National Railway’s stock. This bullish outlook aligns with the current stance of stockTargetAdvisor, which maintains a “Buy” recommendation and a “Slightly Bullish” sentiment as of January 18, 2024.
Canadian Pacific Railway (CP:CA)
Overview: Canadian Pacific Railway, boasting a market capitalization of CAD 97.32 billion, is another major player in the Canadian rail industry. Desjardins Securities, with a “Buy” rating, has raised the target price for CP as well.
Analyst Recommendations:
- Rating: Buy
- Target Price: CAD 118 (Up from the previous target of CAD 107.87)
- Market Performance: CAD 107.87 (+5.06%) at the last market close
Desjardins Securities’ upward revision of the target by around 9.5% underscores the positive outlook for Canadian Pacific Railway’s stock. This optimistic sentiment is further reinforced by stockTargetAdvisor, which not only maintains a “Buy” recommendation but has upgraded its sentiment to “Bullish” as of January 18, 2024.
Implications and Considerations:
The decision by Desjardins Securities to raise targets on both Canadian National Railway and Canadian Pacific Railway suggests a robust belief in the growth potential of these companies. Investors may find the increased target prices and positive sentiments from both Desjardins Securities and StockTargetAdvisor as encouraging indicators.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
