Desjardins lowered its price target on Canadian Pacific Kansas City Ltd. (CP.TO, CP) to $123 from $124.

Analyst Benoit Poirier maintained a Buy rating on the Canadian railway company following its quarterly results.

"CP reported relatively in-line 2Q results and reiterated its 10-14% EPS guidance for the year," Poirier said in a note to clients.

:Operational delays related to the systems cutover negatively impacted EPS by ~C$0.03-0.04, but carry-over to 3Q is limited," the analyst said.

"Our thoughts expressed in our 2Q preview remain unchanged (especially given the weak Canadian economy) as we no longer expect CP to exceed the 10-14% EPS growth targeted by management earlier in the year - we now forecast EPS growth of 10%."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)