Canadian Pacific Kansas City (CP) – Among the 10 Best Canadian Dividend Stocks to Buy for the Next 5 Years

Canadian Pacific Kansas City Limited (NYSE:CP) is included among the 10 Best Canadian Dividend Stocks to Buy for the Next 5 Years.

On June 25, Barclays raised its price recommendation on Canadian Pacific Kansas City Limited (NYSE:CP) to $102 from $99. It reiterated an Overweight rating on the stock. The firm updated its price targets across the North American transportation sector as part of its second-quarter earnings preview.

The analyst said solid freight demand across the US and international markets, along with lower transportation capacity, is expected to support stronger earnings and a more positive outlook for the sector. According to the research note, continued volume momentum and higher US imports should lead to favorable earnings revisions throughout the reporting season, while tighter market capacity is expected to support higher core freight pricing for most carriers.

Canadian Pacific Kansas City Limited (NYSE:CP) operates the only single-line railway connecting Canada, the United States, and Mexico. Its network provides direct access to major ports stretching from Vancouver and Atlantic Canada to the Gulf Coast and Lazaro Cardenas, Mexico.

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