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Fly News Breaks for January 30, 2020
Jan 30, 2020 | 07:41 EDT
Benchmark analyst Mark Levin initiated coverage of Canadian Pacific with a Buy rating and $295 price target. The company issued "seemingly conservative" full-year EPS guidance, said Levin, who thinks Canadian Pacific has numerous organic growth opportunities and expects its operating ratio to trend down over time to under 58% by 2021. "Even with only modest economic growth, we wouldn't be surprised to see the company post a 56% OR by 2022," added Levin in his initiation note.