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UNP

Union Pacific

$171.14

0.1 (0.06%)

, CNI

Canadian National

$91.47

0.76 (0.84%)

04:59
06/13/19
06/13
04:59
06/13/19
04:59

Union Pacific downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Brandon Oglenski downgraded Union Pacific (UNP) to Equal Weight from Overweight and lowered his price target for the shares to $170 from $190. The analyst also cut his Transportation sector view to Neutral saying he sees "real fundamental challenges set against high market expectations." Railroad equities are not properly discounting recent headwinds from softer demand and "lower supply chain urgency" across North America, Oglenski tells investors in a research note. Further, he sees increasing risk that tariff driven inflation could "damp consumer consumption" later this year, at least in the U.S. As a result, Oglenski suggests investors take some Transportation exposure off the table. He keeps Equal Weight ratings on Canadian National (CNI), Kansas City Southern (KSU) and Norfolk Southern (NSC) as well as Overweight ratings on Canadian Pacific (CP) and CSX (CSX).

UNP

Union Pacific

$171.14

0.1 (0.06%)

CNI

Canadian National

$91.47

0.76 (0.84%)

KSU

Kansas City Southern

$118.46

-0.72 (-0.60%)

NSC

Norfolk Southern

$199.20

0.24 (0.12%)

CP

Canadian Pacific

$233.11

0.33 (0.14%)

CSX

CSX

$78.21

-0.39 (-0.50%)

  • 23

    Jul

  • 13

    Nov

UNP Union Pacific
$171.14

0.1 (0.06%)

06/12/19
DBAB
06/12/19
NO CHANGE
DBAB
Deutsche lowers estimates for U.S. Class 1 Rails, keeps Buy ratings
Deutsche Bank analyst Amit Mehrotra lowered his Q2 earnings forecasts by 4% on average, taking him below consensus for all the U.S. Class 1 Rails - CSX (CSX), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). The analyst is in-line with the consensus for Canadian National (CNI) and above consensus for Canadian Pacific (CP). Despite the estimate cuts, Mehrotra remains positive on Rail stocks, reflecting the sector's "volume-agnostic" cost opportunity. He lowered his price target for CSX to $87 from $89, for Kansas City Southern to $138 from $142, for Norfolk Southern to $196 from $198 and for Union Pacific to $197 from $200. The analyst keeps Buy ratings on all four names.
03/19/19
03/19/19
DOWNGRADE
Target $182

Hold
Union Pacific cut to Hold at Loop Capital on cold weather, Nebraska flooding
As previously reported, Loop Capital analyst Rick Paterson downgraded Union Pacific to Hold from Buy and lowered his price target to $182 from $193. Amid the meltdown of western railroads, the analyst says Union Pacific "wins the award for the world's unluckiest", noting that in spite of reeling from the Oregon tunnel collapse last May, the more recent polar vortex and Nebraska flooding delivered a "one-two punch" to the company. Paterson also lowers his FY19 EPS view to $8.72 from $8.86 and FY20 forecast to $9.95 from $10.09 on Union Pacific and sees its P/E topping at 18-times, stating it "makes sense to scale back" the rating.
04/22/19
BMOC
04/22/19
NO CHANGE
Target $190
BMOC
Outperform
Union Pacific price target raised to $190 from $175 at BMO Capital
BMO Capital analyst Fadi Chamoun raised his price target on Union Pacific to $190 after its Q1 results that showed a "strong momentum in the operational transformation story of the company" with productivity improvement that offset a negative revenue mix and weather-related challenges. The analyst believes that Union Pacific still has "significant more runway" to expand its margins and grow its earnings over the comping years, keeping his Outperform rating on the shares.
04/22/19
DBAB
04/22/19
NO CHANGE
Target $200
DBAB
Buy
Union Pacific price target raised to $200 from $178 at Deutsche Bank
Deutsche Bank analyst Amit Mehrotra raised his price target for Union Pacific to $200 from $178 saying that while the company's Q1 results were "fine," its outlook "was even better." Ultimately, the analyst sees ~$13.50 of earnings per share power potential by early next decade. He keeps a Buy rating on Union Pacific.
CNI Canadian National
$91.47

0.76 (0.84%)

04/30/19
RBCM
04/30/19
DOWNGRADE
RBCM
Sector Perform
Canadian National downgraded to Sector Perform from Outperform at RBC Capital
04/30/19
04/30/19
DOWNGRADE

Sector Perform
Canadian National downgraded to Sector Perform from Outperform at RBC Capital
As previously reported, RBC Capital analyst Walter Spracklin downgraded Canadian National to Sector Perform, even though he continues to recommend the stock as a "long-term holding". The analyst cites the recent stock price appreciation to "historically high valuation" as well as the company's weaker than expected Q1 results that saw weather-related impact on volumes. Spracklin further warns about the risks of a slowing economy, reduced capacity, and volatility in Canadian Nationa's growth sources like coal and crude oil.
04/30/19
BMOC
04/30/19
NO CHANGE
Target $125
BMOC
Market Perform
Canadian National price target raised to $125 from $116 at BMO Capital
BMO Capital analyst Fadi Chamoun raised his price target on Canadian National to $125, saying its worse than expected Q1 results were due to the challenging winter weather. Instead, the analyst points to the management's maintained focus on investing in the company's capacity, leading to its growth and a "more favorable" operating leverage in the future. Chamoun keeps his Market Perform rating on Canadian National shares but adds that he would consider an upgrade with a greater margin of safety in valuation for the stock.
KSU Kansas City Southern
$118.46

-0.72 (-0.60%)

04/18/19
LOOP
04/18/19
NO CHANGE
Target $142
LOOP
Buy
Kansas City Southern price target raised to $142 from $132 at Loop Capital
Loop Capital analyst Rick Paterson raised his price target on Kansas City Southern to $142 and kept his Buy rating after its Q1 earnings beat, saying the company should be able to get its "operations right this time". The analyst notes that Kansas City Southern has been through "numerous cycle" of meaningful improvement that "subsequently relapsed, squandering customer goodwill and growth opportunities." Paterson believes however that the latest upswing in service quality can be sustained with the adoption of Precision Scheduled Railroading and the appointment of a new EVP of PSR, Sameh Fahmy.
04/18/19
BMOC
04/18/19
NO CHANGE
Target $130
BMOC
Outperform
Kansas City Southern price target raised to $130 from $122 at BMO Capital
BMO Capital analyst Fadi Chamoun raised his price target on Kansas City Southern to $130 and kept his Outperform rating after its Q1 results. The analyst cites the company's revenue beat and better visibility into its "improving operating efficiency" within a "rising volume environment". Chamoun also believes that Kansas City Southern's implementation of precision scheduled railroading should support its "robust" earnings growth in the coming years.
03/15/19
DBAB
03/15/19
NO CHANGE
DBAB
Deutsche closes short-term ideas on XPO, Kansas City Southern
Deutsche Bank analyst Amit Mehrotra closes his short-term ideas on both XPO Logistics (XPO) and Kansas City Southern (KSU). On XPO, the analyst says the "quick recovery" in the shares he expected from management's buyback efforts has not materialized. However, his long-term fundamental rating remains Buy on the stock. On Kansas City Southern, Mehrotra notes the shares are now the best performing rail stock year-to-date. His long-term fundamental rating remains Buy on the shares.
NSC Norfolk Southern
$199.20

0.24 (0.12%)

04/25/19
LOOP
04/25/19
NO CHANGE
Target $237
LOOP
Buy
Norfolk Southern price target raised to $237 from $211 at Loop Capital
Loop Capital analyst Rick Paterson raised his price target on Norfolk Southern to $237 and kept his Buy rating after its "blowout" Q1 earnings results and a 3% improvement in its operating ratio to 66.6%. The analyst notes that this is the "time of maximum operational risk and maximum potential reward" as the company prepares for a full rollout of its new operating plan - TOP21 - with incremental intermodal lane rationalization and a synchronization of train speeds.
04/25/19
BMOC
04/25/19
NO CHANGE
Target $210
BMOC
Market Perform
Norfolk Southern price target raised to $210 from $185 at BMO Capital
BMO Capital analyst Fadi Chamoun raised his price target on Norfolk Southern to $210 after its Q1 results showed " operational improvements combined with strong pricing" that yielded a 330bps expansion in operating margin. The analyst keeps his Market Perform rating on the stock however, citing "less certain" pricing growth amid the slowing volume growth environment.
04/08/19
ARGS
04/08/19
NO CHANGE
Target $210
ARGS
Buy
Norfolk Southern price target raised to $210 from $180 at Argus
Argus analyst John Eade raised his price target on Norfolk Southern to $210 and kept his Buy rating, saying he sees "solid demand for the industry" and volume trends having turned positive. The analyst also points to the company's accelerating its "aggressive restructuring program that is lowering costs and improving profitability", adding that the management's decision to raise dividend payments 3 times in the past year also signals its confidence about its outlook. Eade further notes Norfolk Southern's clean balance sheet and offers a positive view for the North American railroad companies "based on strength in the consumer sector, as well as fuel prices that remain well below 2013-2014 levels."
CP Canadian Pacific
$233.11

0.33 (0.14%)

04/12/19
DESJ
04/12/19
DOWNGRADE
DESJ
Hold
Canadian Pacific downgraded to Hold from Buy at Desjardins
03/18/19
DBAB
03/18/19
NO CHANGE
DBAB
Deutsche lowers estimates for Canadian Pacific, Canadian National
Deutsche Bank analyst Seldon Clarke lowered his estimates for both Canadian Pacific (CP) and Canadian National (CNI) to reflect weaker than expected volume trends and higher costs related to weather. The analyst, however, remains positive over the mid/long term for both companies given his expectation for "best-in-class" volume growth and continued improvements in profitability. He reduced his price target for Canadian Pacific to $230 from $248.
03/12/19
03/12/19
DOWNGRADE

Market Perform
Canadian Pacific downgraded to Market Perform at Bernstein
As previously reported, Bernstein analyst David Vernon downgraded Canadian Pacific to Market Perform from Outperform as he thinks 2019 will represent a peak rate of near-term earnings growth for the company, making it difficult for the stock to re-rate to a higher multiple. While strong execution can help Canadian Pacific deliver bullish top line expectations, Vernon thinks it will be difficult for the company to sustain elevated rates of top line and EBIT growth given the uncertain macro environment. As such, the analyst believes the company will perform more in line with the market over the next year.
CSX CSX
$78.21

-0.39 (-0.50%)

04/17/19
BMOC
04/17/19
NO CHANGE
Target $78
BMOC
Market Perform
CSX price target raised to $78 from $76 at BMO Capital
BMO Capital analyst Fadi Chamoun raised his price target on CSX to $78 after its "modestly better than expected" Q1 results, even when excluding "contribution from one-time items". The analyst notes that until now, CSX has been an "efficiency improvement with strong execution" story, but believes that "materially improved" service levels could generate volume growth and sustain the company's strong earnings momentum over the medium term. Chamoun is keeping his Market Perform rating on CSX stock to reflect its "balanced valuation" and his cautious macro view.
04/17/19
SBSH
04/17/19
NO CHANGE
Target $86
SBSH
Buy
CSX shares should move toward $86 as estimates rise, says Citi
Citi analyst Christian Wetherbee sees estimates moving higher and shares of CSX moving towards his $86 price target following the company's Q1 results. CSX's operating ratio improved sequentially "against typically strongly negative seasonality," leading to results which were "solidly better" than expected, Wetherbee tells investors in a post-earnings research note. He thinks the company's report will be viewed favorably across rails as a strong start to 2019. The analyst keeps a Buy rating on CSX.
04/17/19
FBCO
04/17/19
NO CHANGE
Target $93
FBCO
Outperform
CSX price target raised to $93 from $88 at Credit Suisse
Credit Suisse analyst Allison Landry raised her price target for CSX to $93 from $88, while reiterating an Outperform rating on the shares. While there were a couple of transitory items that helped in the quarter, the analyst believes they do not at all detract from the otherwise compelling long term story at CSX that the Q1 results are underwriting, namely that the company continues to execute on meaningful structural cost take-outs, a higher quality revenue stream, and improved free cash flow conversion.

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ROAD

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NVST

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INVH

Invitation Homes

$28.49

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AMC

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  • 09

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BA

Boeing

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$75.76

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YUMA

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ARAY

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SMMF

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STLD

Steel Dynamics

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FDX

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