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Company News

BUZZ-Canadian Pacific shares rise on positive forecast

** Shares of Canadian railroad operator rise 3.5% to an all-time high of C$305.39; announced results after markets closed on Tuesday

** Co says it expects double-digit adj. EPS growth in 2019 and mid-single digit growth in revenue ton mile - a key industry metric ** However, CP misses profit estimates in Q1 as it spent heavily to combat a harsh winter

** Posts Q1 adj. EPS of C$2.79 vs analysts’ avg estimates of C$3.01 - Refinitiv

** Several analysts raise PT on co; RBC says 2019 forecast entirely offsets the tough Q1

** Including Wednesday’s early gains, stock up 25.5% this year (Reporting by Debroop Roy in Bengaluru)

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