The Globe and Mail reports in its Thursday, Oct. 8, edition that Citi analyst Ariel Rosa has reaffirmed his "buy" recommendation for Canadian Pacific Kansas City. The Globe's David Leeder writes that Mr. Rosa gave his share target a $7 boost to $109 (all figures U.S.). Analysts on average target the shares at $101.20. Mr. Rosa says in a note: "Rails posted generally strong volumes in Q3, with mid-single digit y-y carload growth (above prior expectations) at four of the five rails (UNP, CSX, CP, CNI) and roughly in-line low-single digit growth at NSC. End-of-quarter calls reflected tempered optimism on macro conditions, with nearly all rails noting a tailwind to domestic intermodal volumes from tighter trucking capacity and higher fuel prices. Service levels have remained solid, providing a long runway of potential share gains for rails vs. trucks in the coming quarters. Enthusiasm was somewhat moderated by acknowledgment of headwinds from rising fuel prices given lags in surcharges and the timing of when fuel prices started to accelerate in Q3. We also noted broad-based optimism on the pricing opportunity, but nearly all rails were quick to note that meaningful pricing upside would likely not be realized until 2027."