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CSX

CSX

$71.37

-8.2 (-10.31%)

, GWR

Genesee & Wyoming

$109.64

-0.36 (-0.33%)

16:42
07/17/19
07/17
16:42
07/17/19
16:42

U.S freight rail declines indicate economic weakness, FT says

According to the Financial Times writer Gregory Meyer, railroad carriers "of bulk goods from coal to steel report falling freight volumes." CSX, a leading U.S rail carrier, reported earnings earlier in the week, with the CEO saying "the present economic backdrop is one of the most puzzling I have experienced in my career." Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link

CSX

CSX

$71.37

-8.2 (-10.31%)

GWR

Genesee & Wyoming

$109.64

-0.36 (-0.33%)

UNP

Union Pacific

$164.05

-11.05 (-6.31%)

CP

Canadian Pacific

$244.53

-1.74 (-0.71%)

KSU

Kansas City Southern

$116.81

-6.02 (-4.90%)

NSC

Norfolk Southern

$191.17

-15.36 (-7.44%)

CNI

Canadian National

$92.60

-2.67 (-2.80%)

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    Aug

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    Nov

CSX CSX
$71.37

-8.2 (-10.31%)

07/17/19
FBCO
07/17/19
NO CHANGE
Target $86
FBCO
Outperform
CSX price target lowered to $86 from $92 at Credit Suisse
Credit Suisse analyst Allison Landry lowered her price target for CSX to $86 from $92 as the company lowered its 2019 revenue guide. The analyst reiterates an Outperform rating on the shares.
07/17/19
07/17/19
DOWNGRADE

CSX downgraded to Hold from Buy at Cascend Securities
07/17/19
CSND
07/17/19
DOWNGRADE
CSND
Hold
Cascend downgrades four rails on weakening intermodal traffic
Cascend Securities downgraded four names in the rail space, CSX (CSX), Norfolk Southern (NSC), Kansas City Southern (KSU), and Union Pacific (UNP), to Hold after three years at Buy. Intermodal traffic is down since February, and it doesn't look like a "pause," Cascend tells investors in a research note. Further, industrial equipment imports into the U.S. has suddenly declined sharply, adds the firm, which notes that CSX last night called the economic backdrop "puzzling."
07/17/19
RBCM
07/17/19
NO CHANGE
Target $75
RBCM
Sector Perform
CSX price target lowered to $75 from $78 at RBC Capital
RBC Capital analyst Walter Spracklin lowered his price target on CSX to $75 and kept his Sector Perform rating after its weaker than expected Q2 results and a cut in revenue guidance, which he expects to have a "pronounced negative impact" on the stock price and across the rail sector. The analyst cites the commentary from CSX CEO referring to the current economic backdrop as "the most puzzling I have experienced in my career" in evidence of the prevailing macro risk for the company going forward. Spracklin adds that the muted earnings growth potential, along with the negative implied return of his price target, warrants a neutral stance on the stock.
GWR Genesee & Wyoming
$109.64

-0.36 (-0.33%)

07/01/19
FBCO
07/01/19
UPGRADE
Target $112
FBCO
Neutral
Genesee & Wyoming upgraded to Neutral from Underperform at Credit Suisse
Credit Suisse analyst Allison Landry upgraded Genesee & Wyoming (GWR) to Neutral from Underperform and raised her price target on the shares to $112 from $75 to reflect the company's agreement to be acquired and taken private by Brookfield Infrastructure Partners (BIP).
05/01/19
05/01/19
DOWNGRADE
Target $83

Underperform
Genesee & Wyoming downgraded to Underperform at BofA/Merrill
As previously reported, BofA/Merrill downgraded Genesee & Wyoming to Underperform from Neutral and maintained a $83 price target following the Q1 report. Analyst Ken Hoexer said shares are trading at a premium following reports the company was in talks with potential infrastructure/investment firms, despite operational pressures in North America and Australia.
04/30/19
BOFA
04/30/19
DOWNGRADE
BOFA
Underperform
Genesee & Wyoming downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Ken Hoexter downgraded Genesee & Wyoming to Underperform from Neutral citing the Q1 report, that missed targets, and valuation premium.
07/01/19
STFL
07/01/19
DOWNGRADE
STFL
Hold
Genesee & Wyoming downgraded to Hold from Buy at Stifel
Stifel analyst Michael Baudendistel downgraded Genesee & Wyoming (GWR) to Hold from Buy after the company agreed to be acquired and taken private by Brookfield Infrastructure Partners (BIP) and its institutional partners. The deal requires two-thirds approval by shareholders, but he sees approval as likely given that the acquisition price is a 39.5% premium to where shares traded before media reports regarding a deal, Baudendistel noted.
UNP Union Pacific
$164.05

-11.05 (-6.31%)

07/17/19
CKCP
07/17/19
DOWNGRADE
CKCP
Union Pacific downgraded to Hold from Buy at Cascend Securities
07/10/19
GSCO
07/10/19
INITIATION
Target $198
GSCO
Buy
Union Pacific initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Jordan Alliger started Union Pacific with a Buy rating and $198 price target. The analyst thinks shares of Union Pacific still offer upside in the context of its recent implementation of PSR. The company should generate near the high end of rail operating rail improvement in 2019-2021, Alliger tells investors in a research note.
06/17/19
06/17/19
DOWNGRADE
Target $177

Market Perform
Union Pacific downgraded to Market Perform at Bernstein
As previously reported, Bernstein analyst David Vernon downgraded Union Pacific to Market Perform from Outperform and lowered its price target on the shares to $177 from $190. The analyst believes is not worth playing in a down freight market as rail stocks do not work in a down truck market.
CP Canadian Pacific
$244.53

-1.74 (-0.71%)

07/17/19
FBCO
07/17/19
NO CHANGE
Target $275
FBCO
Outperform
Canadian Pacific price target raised to $275 from $262 at Credit Suisse
Credit Suisse analyst Allison Landry raised her price target for Canadian Pacific to $275 from $262 after the company posted a "strong" Q2 beat, driven by a record O.R. and better than expected top line performance. The analyst reiterates an Outperform rating on the shares.
07/17/19
DBAB
07/17/19
NO CHANGE
Target $260
DBAB
Buy
Canadian Pacific price target raised to $260 from $230 at Deutsche Bank
Deutsche Bank analyst Seldon Clarke raised his price target for Canadian Pacific $260 from $230 citing the structural improvements in the company's long-term free cash conversion and further improvements in profitability. He keeps a Buy rating on the shares following Canadian Pacific's Q2 results.
07/15/19
RAJA
07/15/19
DOWNGRADE
RAJA
Outperform
Canadian Pacific downgraded to Outperform from Strong Buy at Raymond James
07/10/19
07/10/19
DOWNGRADE

Hold
CSX, Canadian Pacific downgraded to Hold from Buy at Loop Capital
As previously reported, Loop Capital analyst Rick Paterson downgraded CSX (CSX) and Canadian Pacific (CP) to Hold from Buy as part of a broader Air Freight & Logistics industry research note, saying the freight transportation data continue to indicate a slowing in the industrial economy. The analyst cites volumes registering a second consecutive quarter of negative growth relative to their prior years, with the most recent quarter also declining sequentially from the prior one and the upcoming quarter likely remaining pressured by the tough annual comps. The analyst also lowers his price targets on Canadian Pacific to C$338 from C$340, CSX to $81 from $85 while also reducing the price targets on UPS (UPS) to $128 from $145, J.B. Hunt (JBHT) to $121 from $133, and Hub Group (HUBG) to $65 from $71.
KSU Kansas City Southern
$116.81

-6.02 (-4.90%)

06/13/19
LEHM
06/13/19
DOWNGRADE
Target $170
LEHM
Equal Weight
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).
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.
07/17/19
07/17/19
DOWNGRADE

Kansas City Southern downgraded to Hold from Buy at Cascend Securities
NSC Norfolk Southern
$191.17

-15.36 (-7.44%)

07/17/19
07/17/19
DOWNGRADE

Norfolk Southern downgraded to Hold from Buy at Cascend Securities
07/10/19
GSCO
07/10/19
INITIATION
Target $237
GSCO
Conviction Buy
Norfolk Southern initiated with a Conviction Buy at Goldman Sachs
Goldman Sachs analyst Jordan Alliger started Norfolk Southern with a Buy rating and added the shares to the firm's Americas Conviction List. Alliger put a $237 price target on the shares. Norfolk shares still offer upside in the context of the company's recent PSR implementation, the analyst tells investors in a research note. He believes the company remains the rail with the most to gain from PSR in terms of moving its operating ratio closer to current industry norms.
CNI Canadian National
$92.60

-2.67 (-2.80%)

07/10/19
GSCO
07/10/19
INITIATION
Target $97
GSCO
Neutral
Canadian National initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Jordan Alliger started Canadian National with a Neutral rating and $97 price target. The analyst cites the company's "industry-high" price-to-earnings valuation for his Neutral rating. He sees more relative upside in other rail names.
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.

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SXT

Sensient

$66.57

0.4 (0.60%)

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T

AT&T

$37.82

0.03 (0.08%)

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OMAB

OMA

$52.10

0.47 (0.91%)

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MAR

Marriott

$120.57

-0.55 (-0.45%)

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SPY

SPDR S&P 500 ETF Trust

$299.19

0.78 (0.26%)

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S&P 500

$0.00

(0.00%)

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General news
NY Fed's Williams Condition in money markets highly volatile over past month »

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SPDR S&P 500 ETF Trust

$299.19

0.78 (0.26%)

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GM

General Motors

$36.20

-0.45 (-1.23%)

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GM strike to continue until deal with UAW is ratified, WSJ says »

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T

AT&T

$37.82

0.03 (0.08%)

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AT&T, Elliott Management in talks to resolve activist campaign, WSJ reports »

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WAL

Western Alliance

$46.24

0.53 (1.16%)

17:27
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RNLSY

Renault

$0.00

(0.00%)

17:25
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Downgrade
Renault rating change  »

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LOVE

Lovesac

$19.10

0.63 (3.41%)

17:24
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Park West Management reports 5.1% passive stake in Lovesac »

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  • 17

    Dec

T

AT&T

$37.82

0.03 (0.08%)

17:24
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ATVI

Activision Blizzard

$55.60

0.01 (0.02%)

17:16
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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:11
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Brandywine Realty sees FY19 year-end core occupancy at 94%-95% »

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

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Brandywine Realty reports Q3 same-store net operating income up 0.6% »

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:09
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Brandywine Realty sees FY20 initial FFO $1.41-$1.51, consensus $1.46 »

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  • 18

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GIL

Gildan Activewear

$35.38

0.095 (0.27%)

17:08
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Gildan Activewear cuts FY19 adj. EPS view to $1.65-$1.70 from $1.95-$2.00 »

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:07
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Earnings
Brandywine Realty narrows FY19 FFO guidance to $1.41-$1.43 from $1.40-$1.44 

Consensus $1.42.

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  • 18

    Oct

BDN

Brandywine Realty

$14.68

0.13 (0.89%)

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  • 18

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GIL

Gildan Activewear

$35.38

0.095 (0.27%)

17:06
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Earnings
Gildan Activewear sees Q3 adjusted EPS roughly 53c, consensus 57c »

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ISRG

Intuitive Surgical

$529.22

-1.25 (-0.24%)

17:04
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  • 17

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SAVE

Spirit Airlines

$36.70

0.645 (1.79%)

17:01
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Spirit Airlines announces $250M global HQ investment »

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ICBK

County Bancorp

$19.38

0.065 (0.34%)

17:01
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Earnings
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  • 18

    Oct

QTNT

Quotient

$7.87

0.08 (1.03%)

16:59
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Quotient sees Q2 revenue higher than guided on positive IH microarray data »

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  • 25

    Oct

BA

Boeing

$369.13

-3.19 (-0.86%)

16:59
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  • 23

    Oct

ARMK

Aramark

$44.22

0.41 (0.94%)

, GM

General Motors

$36.20

-0.45 (-1.23%)

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UAW reaches tentative pact with Aramark workers at GM plants, Reuters says »

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ARMK

Aramark

$44.22

0.41 (0.94%)

GM

General Motors

$36.20

-0.45 (-1.23%)

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  • 29

    Oct

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