Investing in Canadian Pacific Railway Limited (CP): What You Must Know


Taking this into account, Deutsche Bank upgraded its Canadian Pacific Railway Limited [CP] rating to a Buy from a a Hold in a research note published on Tuesday, November 29, 2022; the price target was increased to $98 from $80. PT values the company’s stock at a premium of 23.0 to its Tuesday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid September from “a Neutral” to “a Buy”. Scotiabank also remained covering CP and has decreased its forecast on July 07, 2022 with a “Sector perform” recommendation from previously “Sector outperform” rating. Credit Suisse started covering the stock on June 28, 2022. It rated CP as “a Neutral”.

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Price Performance Review of CP

On Tuesday, Canadian Pacific Railway Limited [NYSE:CP] saw its stock fall -2.80% to $75.46. On the same session, the stock had its day’s lowest price of $75.07, but rose to a high of $77.33. Over the last five days, the stock has lost -0.63%. Canadian Pacific Railway Limited shares have risen nearly 1.17% since the year began. Nevertheless, the stocks have fallen -3.06% over the past one year. While a 52-week high of $84.22 was reached on 01/17/23, a 52-week low of $65.17 was recorded on 01/03/23. SMA at 50 days reached $77.47, while 200 days put it at $75.23. A total of 2.26 million shares were traded, compared to the trading of 1.72 million shares in the previous session.

Levels Of Support And Resistance For CP Stock

The 24-hour chart illustrates a support level at 74.58, which if violated will result in even more drops to 73.69. On the upside, there is a resistance level at 76.84. A further resistance level may holdings at 78.21. The Relative Strength Index (RSI) on the 14-day chart is 41.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.81%. Stochastics %K at 41.19% indicates the stock is a holding.

How much short interest is there in Canadian Pacific Railway Limited?

A steep rise in short interest was recorded in Canadian Pacific Railway Limited stocks on Jan 12, 2023, dropping by -1.82 million shares to a total of 12.69 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 14.51 million shares. There was a decline of -14.34%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.36% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.46.

Canadian Pacific Railway Limited [CP] – Who Are The Largest Shareholders?

In filings from TCI Fund Management Ltd., it is revealed that the company now owns 55,860,385 shares, or roughly 6.01% of the outstanding CP shares. Additionally, WCM Investment Management LLC decreased -3.27% of its stake after which the total value it holdings stand at $2,387,722,927, while Massachusetts Financial Services reduced -6.05% of its stake to hold $2.34 billion in the firm. Over the last quarter, Fidelity Management & Research Co sold -3,626,308 shares of Canadian Pacific Railway Limited, while RBC Global Asset Management, Inc. sold -408,057 shares. At present, Fidelity Investments Canada ULC is holding 24,791,337 shares valued at $1.96 billion. Capital Research & Management Co owned 24,566,687 shares of the company at the time of its most recent 13F filing, worth $1.94 billion.


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