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CSX

CSX

$57.31

-0.38 (-0.66%)

, CP

Canadian Pacific

$181.18

0.95 (0.53%)

10:18
12/15/17
12/15
10:18
12/15/17
10:18

Citi recommends buying CSX on today's selloff

Citi analyst Christian Wetherbee recommends using the selloff today in shares of CSX (CSX) as a buying opportunity. At Canadian Cacific (CP), Hunter Harrison needed 18 months to do the heavy lifting on the company's operational turnaround, Wetherbee tells investors in a research note. Harrison has worked for 10 months at CSX before his medical leave and the question is whether that is enough to successfully pass the reigns to Jim Foote to execute his vision, Wetherbee contends. Most of what needed to be done at CSX has already been done, the analyst contends, pointing out that CSX was in a better place than CP was in 2012 what Harrison took over. Wetherbee still thinks fair value for CSX shares is in the upper $50s excluding tax benefits, and upper $60s with tax reform. He keeps a Buy rating on the stock with a $58 price target. CSX is down 8%, or $4.34, to $52.97 in morning trading.

CSX

CSX

$57.31

-0.38 (-0.66%)

CP

Canadian Pacific

$181.18

0.95 (0.53%)

  • 18

    Jan

CSX CSX
$57.31

-0.38 (-0.66%)

11/17/17
UBSW
11/17/17
NO CHANGE
Target $68
UBSW
Buy
CSX shares attractive, reflecting too much caution, says UBS
UBS analyst Thomas Wadewitz said CSX is in transition and is expected to be focused on improving operational execution with rising momentum in the first half of 2018 while switching to focusing on volumes and growth a longer term priority. The analyst said that given the company's potential the shares are reflecting too much caution. He reiterated his Buy rating and $68 price target on CSX shares.
12/01/17
UBSW
12/01/17
NO CHANGE
Target $68
UBSW
Buy
CSX upside remains compelling, says UBS
UBS analyst Thomas Wadewitz met with CSX management and said the new COO brings a thoughtful approach and fresh perspective on the business. The analyst believes the company is set up to deliver a significant improvement in its network operation and compelling cost reduction in 2018. He said capital expenditures will decrease and its stock buyback remains underappreciated. Wadewitz reiterated his Buy rating and $68 price target on CSX shares.
12/15/17
SBSH
12/15/17
NO CHANGE
Target $58
SBSH
Buy
CSX CEO leave to bring 'material' stock pressure, says Citi
Citi analyst Christian Wetherbee expects shares of CSX to be under "meaningful pressure" in the short term following last night's announcement that CEO Hunter Harrison will be taking a medical leave due to unexpected complications from a recent illness. The news triggers the "substantial key man risk" that has been present since Hunter took the reins in January, Wetherbee tells investors in a research note. He notes CSX's market capitalization has increased $10B since Harrison joined the company. The analyst keeps a Buy rating on the shares with a $58 price target, however. He believes Jim Foote's arrival "should cushion the blow somewhat."
12/15/17
UBSW
12/15/17
NO CHANGE
Target $68
UBSW
Buy
CSX could fall 10% on CEO's medical leave, says UBS
UBS analyst Thomas Wadewitz believes the medical leave of CSX CEO Hunter Harrison could cause a 10% pullback in the shares. The stock in premarket trading is down 9.5% to $51.85. The analyst has a positive view on acting CEO Jim Foote, but believes it will likely take time to build confidence that CSX can remain on the same path of improvement in the absence of Harrison. CSX may need to deliver strong results for several quarters in order to build confidence and provide visibility to improvement, Wadewitz tells investors in a research note. The analyst keeps a Buy rating on the shares with a $68 price target.
CP Canadian Pacific
$181.18

0.95 (0.53%)

10/18/17
BMOC
10/18/17
NO CHANGE
Target $238
BMOC
Outperform
Canadian Pacific price target raised to $238 from $225 at BMO Capital
BMO Capital analyst Fadi Chamoun raised his price target on Canadian Pacific to $238 following Q3 results. Chamoun notes that the company has improved its cost structure amid a positive demand environment supporting more growth opportunities. The analyst maintains his Outperform rating on Canadian Pacific.
11/01/17
DBAB
11/01/17
INITIATION
Target $209
DBAB
Buy
Canadian Pacific initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Seldon Clarke started Canadian Pacific with a Buy rating and $209 price target. The analyst sees "at least" 15% upside in the shares as the company leverages its reduced cost base and recent capacity investments to retake market share. He expects this drive 30% cumulative earnings growth over the next two years.
11/01/17
DBAB
11/01/17
INITIATION
Target $73
DBAB
Sell
Canadian National initiated with a Sell at Deutsche Bank
Deutsche Bank analyst Seldon Clarke started Canadian National (CNI) with a Sell rating and $73 price target. The analyst sees 10%-plus downside in the shares as the company's "strong outperformance starts to slow." The analyst expects "catch-up performance" from Canadian Pacific (CP), which he initiated with a Buy rating.
11/13/17
GSCO
11/13/17
INITIATION
Target $178
GSCO
Neutral
Canadian Pacific initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Matt Reustle initiated Canadian Pacific with a Neutral rating and $178 price target. The analyst started the Rails sector with a Cautious coverage view and the Airfreight/Logistics sector with an Attractive coverage view.

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