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CP

Canadian Pacific

$228.59

-1.38 (-0.60%)

, CNI

Canadian National

$92.13

-0.31 (-0.34%)

08:41
09/14/19
09/14
08:41
09/14/19
08:41

Railroad stocks struggling as challenges increase, Barron's says

North American railroads like CSX (CSX), Union Pacific (UNP) and Canadian National Railway (CNI) have been Wall Street favorites, but freight volumes are declining amid worries over an economic slowdown and a trade war, price competition from truckers is pressuring rail rates and the railroads last hope for continued profit growth is efficiency gains, Bill Alpert writes in this week's edition of Barron's. However, there are limits to efficiency strategy as evident in Canada, where precision scheduled railroading was pioneered a decade ago on the long-haul runs of Canadian National and Canadian Pacific Railway (CP), the author notes. Reference Link

CP

Canadian Pacific

$228.59

-1.38 (-0.60%)

CNI

Canadian National

$92.13

-0.31 (-0.34%)

UNP

Union Pacific

$171.49

3.81 (2.27%)

CSX

CSX

$72.50

0.96 (1.34%)

  • 22

    Oct

  • 13

    Nov

CP Canadian Pacific
$228.59

-1.38 (-0.60%)

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
07/18/19
ARGS
07/18/19
NO CHANGE
Target $265
ARGS
Buy
Canadian Pacific price target raised to $265 from $245 at Argus
Argus analyst John Eade raised his price target on Canadian Pacific to $265 and kept his Buy rating, saying the company's recent Q2 results have "defied" softer industry trends with strong growth while the management also expressed its confidence in the future by raising its dividend. The analyst contends that Canadian Pacific is benefiting from strength in key markets that include energy and anticipates volumes to increase at a low-single-digit rate over the next few quarters. Eade also highlights the recently abating tariff and trade concerns which improved the industry outlook for grain - the company's other key commodity.
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.
CNI Canadian National
$92.13

-0.31 (-0.34%)

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.
07/10/19
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.
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).
09/13/19
RAJA
09/13/19
DOWNGRADE
RAJA
Market Perform
Canadian National downgraded to Market Perform from Outperform at Raymond James
UNP Union Pacific
$171.49

3.81 (2.27%)

07/19/19
MSCO
07/19/19
NO CHANGE
Target $140
MSCO
Underweight
Morgan Stanley stays Underweight on Union Pacific, says 'priced for perfection'
After Union Pacific "modestly" topped expectations in Q2, Morgan Stanley analyst Ravi Shanker noted that consensus had declined 9% since May and said he thinks the small beat could come as a disappointment "for a railroad that is in the prime of its PSR implementation." Shanker, who thinks the stock is "priced for PSR perfection," said he has little doubt that the company's headcount cuts are driven by its Precision Scheduled Railroading shift, but he also believes they were accelerated by the tough environment. He keeps an Underweight rating on Union Pacific shares, though he raised his price target on the stock to $140 from $128.
07/26/19
07/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Goldman Sachs (GS) and Citi (C) upgraded to Outperform from Market Perform at Keefe Bruyette. 2. Ambev (ABEV) upgraded to Neutral from Underweight at JPMorgan with analyst Lucas Ferreira saying the post-earnings share rally shows that investors are chasing good growth stories to play Brazil's economic recovery. 3. West Pharmaceutical (WST) upgraded to Neutral from Underperform at BofA/Merrill with analyst Derik de Bruin saying that over the course of the first half, the company addressed his prior concerns around organic revenue growth and product mix trends while also boosting its operating margins and generating higher free cash flows. 4. Union Pacific (UNP) upgraded to Overweight from Neutral at Atlantic Equities, while CSX (CSX) was upgraded to Neutral from Underweight. 5. Hasbro (HAS) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's dominant position with a range of "strong" brands as well as in the big-screen business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/19
LOOP
07/19/19
NO CHANGE
Target $191
LOOP
Hold
Union Pacific price target raised to $191 from $179 at Loop Capital
Loop Capital analyst Rick Paterson raised his price target on Union Pacific to $191 after its better than expected Q2 results, saying the quarter revealed that adverse weather impact has masked some of the "structural improvement" of the company's adoption of Precision Scheduled Railroading. The analyst contends that progress has in fact been "more significant", and he is "intrigued" to see what Union Pacific can do for the balance of the year with major environmental shocks. Paterson also raised his FY19 and FY20 EPS forecasts by 42c and 65c to $8.91 and $10.29 respectively.
07/26/19
ATLE
07/26/19
UPGRADE
ATLE
Overweight
Union Pacific upgraded to Overweight from Neutral at Atlantic Equities
CSX CSX
$72.50

0.96 (1.34%)

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."
07/26/19
ATLE
07/26/19
UPGRADE
ATLE
Neutral
CSX upgraded to Neutral from Underweight at Atlantic Equities

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Ellington Financial

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0.01 (0.05%)

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ACY

AeroCentury

$3.31

-0.66 (-16.62%)

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MYOV

Myovant Sciences

$6.02

-0.14 (-2.27%)

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INVH

Invitation Homes

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-0.04 (-0.13%)

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BA

Boeing

$369.50

-2.05 (-0.55%)

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Southwest

$57.77

-0.03 (-0.05%)

18:44
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Periodicals
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$369.50

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$57.77

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GBDC

Golub Capital

$17.79

0.045 (0.25%)

18:42
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GM

General Motors

$36.62

-0.25 (-0.68%)

, TM

Toyota

$143.53

-0.76 (-0.53%)

18:42
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Periodicals
CA to halt purchase of GM, Toyota, Fiat Chrysler vehicles, Reuters reports »

The state of California…

GM

General Motors

$36.62

-0.25 (-0.68%)

TM

Toyota

$143.53

-0.76 (-0.53%)

FCAU

Fiat Chrysler

$15.63

-0.39 (-2.43%)

NSANY

Nissan

$0.00

(0.00%)

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CRMT

America's Car-Mart

$90.88

3.22 (3.67%)

, WUBA

58.com

$50.26

-1.35 (-2.62%)

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Hot Stocks
Fly Intel: After Hours Movers »

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CRMT

America's Car-Mart

$90.88

3.22 (3.67%)

WUBA

58.com

$50.26

-1.35 (-2.62%)

BILI

Bilibili

$16.39

-0.32 (-1.92%)

SAEX

SAExploration

$1.51

-0.05 (-3.21%)

CLVS

Clovis

$7.05

0.68 (10.68%)

NOW

ServiceNow

$266.56

6.65 (2.56%)

OKTA

Okta

$121.21

3.76 (3.20%)

SPLK

Splunk

$122.64

3.49 (2.93%)

WWD

Woodward

$113.64

-1.15 (-1.00%)

KRNT

Kornit Digital

$33.07

-1.13 (-3.30%)

ASH

Ashland

$78.65

0.03 (0.04%)

VNET

21Vianet

$8.28

0.23 (2.86%)

DHT

DHT Holdings

$7.52

-0.2 (-2.59%)

KRTX

Karuna Therapeutics

$94.70

77.44 (448.67%)

EGHT

8x8, Inc.

$20.78

0.13 (0.63%)

I

Intelsat

$7.98

-5.42 (-40.45%)

PFGC

Performance Food Group

$46.09

-0.08 (-0.17%)

EFC

Ellington Financial

$18.79

0.01 (0.05%)

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LEVI

Levi Strauss

$17.06

-0.115 (-0.67%)

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Levi Strauss CEO: I believe in the importance of innovation »

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CSCO

Cisco

$45.17

0.07 (0.16%)

18:17
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Periodicals
Cisco sues former employees over claims of trade secret theft, Bloomberg says »

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ABBV

AbbVie

$88.71

0.07 (0.08%)

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  • 07

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PRQR

ProQR Therapeutics

$6.27

-0.64 (-9.26%)

18:06
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Hot Stocks
ProQR Therapeutics treatment of retinal dystrophy in P23H granted orphan status »

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BILI

Bilibili

$16.39

-0.32 (-1.92%)

18:04
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Earnings
Bilibili sees Q4 revenue RMB1.93B-RMB1.98B »

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  • 18

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WUBA

58.com

$50.26

-1.35 (-2.62%)

18:03
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Earnings
58.com sees Q4 revenue up 12%-15% in RMB terms »

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  • 19

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BILI

Bilibili

$16.39

-0.32 (-1.92%)

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WUBA

58.com

$50.26

-1.35 (-2.62%)

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Earnings
58.com reports Q3 adjusted EPS 96c, consensus 82c »

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BILI

Bilibili

$16.39

-0.32 (-1.92%)

18:01
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Earnings
Bilibili reports Q3 adjusted EPS (15c), consensus (14c) »

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  • 18

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DDOG

Datadog

$40.36

-0.33 (-0.81%)

, AMZN

Amazon.com

$1,752.70

15.21 (0.88%)

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AMZN

Amazon.com

$1,752.70

15.21 (0.88%)

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17:55
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17:55
Conference/Events
Morgan Stanley analyst to hold an analyst/industry conference call »

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GVA

Granite Construction

$26.50

-0.6 (-2.21%)

17:54
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17:54
Hot Stocks
Granite Construction awarded $14M airfield improvement project in California »

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ZS

Zscaler

$44.46

-1.37 (-2.99%)

, MSFT

Microsoft

$150.35

0.4 (0.27%)

17:51
11/18/19
11/18
17:51
11/18/19
17:51
Initiation
Zscaler, Microsoft initiated at DA Davidson »

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ZS

Zscaler

$44.46

-1.37 (-2.99%)

MSFT

Microsoft

$150.35

0.4 (0.27%)

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OKTA

Okta

$121.21

3.76 (3.20%)

17:51
11/18/19
11/18
17:51
11/18/19
17:51
Upgrade
Okta rating change at DA Davidson »

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PANW

Palo Alto Networks

$248.50

1.465 (0.59%)

17:48
11/18/19
11/18
17:48
11/18/19
17:48
Initiation
Palo Alto Networks initiated at DA Davidson »

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