Stifel Nicolaus Maintains Hold on Canadian Pacific Railway

Stifel Nicolaus is out with its report today on Canadian Pacific Railway (NYSE: CP), maintaining Hold.

In a note to clients, Stifel Nicolaus writes, "We are maintaining our Hold rating on the company's common shares. Our fair value estimate of $70, or 12.0x our 2013 EPS estimate of $5.80, provides insufficient upside potential relative to last night's closing price to warrant a Buy rating at this time."

At the time of posting, shares of CP were trading at $61.70, down 0.80% from Tuesday's close.