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CP don't get enough of making new highs: 5 times in the last 10 sessions

Published: October 16th, 2020 - 5.02am EDT

Canadian Pacific Railway Limited ($CP) has been consistently making new highs in the last 10 sessions. Yesterday Canadian Pacific Railway Limited ($CP) did it again and stock closed at $324.78 slightly changing a 0.84%; new all-time highs are set at $325.26.

On October 9, Scotiabank increased the price target from $395.00 to $450.00 (38.56% over the closing price) with a hold rating. The recommendations issued by financial experts are not a buy or sell recommendation for individual investors, so it is not desirable to follow them blindly.

Canadian Pacific Railway shares started an uptrend last March, and gained an amazing 88.9%. During this uptrend, the price provided some buy points on the breakouts. Latest pullback was in early September, when price bounced at $282.10. On October 7, Canadian Pacific Railway broke out above its last top ($302.11) giving a good buying opportunity

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products. It also transports intermodal traffic comprising retail goods in overseas containers.. The stock is part of the Railroads industry in the Industrials sector. The firm's Headquarters are in Calgary, Canada, and has 11,988 employees worldwide. Its corporate website is http://www.cpr.ca.

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