April 4, 2019 / 11:28 AM / 2 months ago

BUZZ-Canadian Pacific: Severe weather disruptions likely to cloud judgment-MS

** Morgan Stanley cuts PT of Canadian railway operator to C$272 from C$277, maintains “overweight” rating

** MS estimates CP’s Q1 2019 EPS at C$2.91, about 12 pct below consensus estimates, citing weaker revenue ton-mile growth, difficult weather, and a large derailment early in the quarter

** CP expected to report its Q1 results on April 23

** Brokerage says likes CP’s leadership, defensive traits; says co likely to be involved in any potential rail consolidation in the coming years

** 17 of 19 brokerages rate the stock “buy” or higher, and 2 “hold” ; their median PT is C$307.50

** Up to Wednesday’s close, stock had risen 14 pct YTD (Reporting by Shradha Singh in Bengaluru)

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