** BofA Global Research says recent pullback in shares of railroad operator Canadian Pacific Kansas City CP.N was overdone amid concerns of President-elect Donald Trump's calls for tariffs

** Following the Nov 5 election, co's U.S.-listed shares declined 10 of the ensuing 11 sessions, shedding ~7% along the way, and falling as low as $72.69 (Nov 19)

** In note on Thurs, BofA raised its PT by $2 to $89, reiterated its 'buy' rating and calling the stock its "favored rail pick"

** Shares currently up fractionally at $76.52 on the session vs Wall Street median PT of $94.75, per LSEG data

** "With respect to tariffs, CP expects continued robust trade with the US, despite the threat of 25% tariffs (given Mr Trump's focus on negotiations regarding illegal immigration and fentanyl growth). Thus, there remains the potential that actual tariff levels are significantly altered from current headline risk," BofA analysts wrote

** Of 28 analyst recommendations, 19 rate stock "strong buy" or "buy", rest have "hold" ratings

** YTD, stock is down ~3%. In comparison, shares of TSX-listed Canadian National Railway CNR.TO off 8%, Union Pacific UNP.N down ~4%, CSX Corp CSX.O flat, while Norfolk Southern's NSC.N stock up 12% in 2024

(Reporting by Caroline Valetkevitch)

((caroline.valetkevitch@thomsonreuters.com))