Analysts upgrade railways, predict rise in gold prices; spinoff boosts Maple Leaf Foods' valuation

From The Globe and Mail: 2024-07-10 07:57:01

Analyst Konark Gupta is optimistic on railways, upgrading CNR-T and CP-T to “sector outperform” ratings due to attractive valuations and potential growth. Despite labour issues, both stocks have room for outperformance.

CIBC analysts predict a rise in gold prices if Trump wins in 2024, raising their forecasts and ratings on precious metals stocks. Market factors like rate cuts and inflation support their bullish outlook, with gold reaching potential record highs.

Maple Leaf Foods’ spinoff of its pork operations could boost valuation, as the focus shifts to the more stable consumer packaged goods business. Analyst Michael Van Aelst raises his target price for MFI-T, expecting higher valuations for Maple Leaf’s new structure.



Read more at The Globe and Mail: Wednesday’s analyst upgrades and downgrades for July 10, 2024