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Fly News Breaks for January 14, 2020
CP, UNP
Jan 14, 2020 | 06:46 EDT
BofA analyst Ken Hoexter upgraded Canadian Pacific (CP) and Union Pacific (UNP) to Buy from Neutral, citing his expected benefits for carloads from the upside potential of the Phase 1 trade deal with China, signs of stabilizing in the "second derivative carload declines", and continued gains from the Precision Scheduled Railroading overhaul. With 47 of the past 50 weeks showing negative carloads, the analyst expects the declines to decelerate through the first half of 2020.
News For UNP;CP From the Last 2 Days
CP
Mar 28, 2024 | 07:23 EDT
Susquehanna analyst Bascome Majors lowered the firm's price target on Canadian Pacific Kansas City to $84 from $85 and keeps a Neutral rating on the shares. The firm reviewed the rail industry for the upcoming Q1 earnings season and said the firm remains selectively constructive as the rail industry shows cyclical stability into 2Q, but they are actively looking for mid-term entry points on short-term stumbles. They noted Q1 is ending similarly to the way it started; comfortable with slow but stable volumes, and enthusiastic about the rails' pricing power relative to deepening rate-driven pain in truckload. They said with greater conviction in cyclical stability they raised target multiples across the U.S. rails.