Canadian Pacific

CP cooking with grain

Canadian Pacific reports that it has broken all-time records for grain shipments, moving 2.64 million metric tonnes (MMT) of Canadian grain and grain products in October, the railroad’s biggest month ever for this commodity. The previous record was set in September 2017. CP also set a new record for biofuel shipments.

Cowen on CP: “No skepticism in a post-Hunter world”

“We have no skepticism in Canadian Pacific’s post-Hunter world, said Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl in comments on Canadian Pacific’s Oct. 4 investor day and 3Q2018 preliminary results. “We are encouraged by CP’s opportunities in intermodal and grain, and believe that increased free cash flow will give management the option to raise the dividend or pay down high yielding debt. We raise our price target to $236.”