Canadian Pacific Kansas City shares are trading lower after Deutsche Bank downgraded the stock from Buy to Hold and lowered its price target from $85 to $77.
Portfolio Pulse from Benzinga Newsdesk
Canadian Pacific Kansas City shares dropped following a downgrade by Deutsche Bank from Buy to Hold and a reduction in the price target from $85 to $77.
November 27, 2023 | 3:12 pm
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NEGATIVE IMPACT
Canadian Pacific Kansas City (CP) stock is likely to experience downward pressure in the short term due to the downgrade by Deutsche Bank and a lowered price target.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a sell-off. The reduction in the price target further suggests a lower expected valuation, which can contribute to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100