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Canadian Pacific was among our list of large Canadian stocks with downside risk.
Canadian Pacific was among our list of large Canadian stocks with downside risk.
(DARRYL DYCK/THE CANADIAN PRESS)

Wednesday’s analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

A BMO Nesbitt Burns analyst has raised his Canadian Pacific Railway Ltd. share-price target, citing the Calgary-based carrier’s improved efficiency and intermodal service.

Fadi Chamoun, who also raised CP’s rating to “outperform” from “sector perform,” said the Class 1 railway is poised to benefit as new heavy crude loading facilities come onstream in Western Canada this year. Most of the new oil-by-rail terminals are on CP lines, Mr. Chamoun said in a research note to clients.