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CP Rail stock could be in for double-digit correction, analyst warns

Financial Post | Business

Canadian Pacific Railway Ltd.’s goals for improving its operations are “unachievable” and a double-digit correction may be lying in the wings in the coming months, one analyst warned investors Thursday.

Walter Spracklin, an analyst at RBC Capital Markets, splashed cold water on CP’s red-hot stock in the lead up to its investor meeting next week, where the company’s new management under recently appointed chief executive, Hunter Harrison, is expected to unveil its turnaround plan.

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