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NSC

Norfolk Southern

$160.80 /

+1.8 (+1.13%)

, CSX

CSX

$63.97 /

+0.47 (+0.74%)

13:19
04/09/20
04/09
13:19
04/09/20
13:19

Kansas City Southern falls after analyst sees risk to Mexico rail transport

Shares of railroad operator Kansas City Southern (KSU) are lower on Thursday after JPMorgan analyst Brian Ossenbeck downgraded the stock, citing the risk of COVID-19 in Mexico. ANALYST SEES PROBLEM WITH MEXICO AND COVID-19: According to Ossenbeck's research note, the virus has been rapidly spreading in Mexico, which is a risk factor that has been largely overlooked for positive inflections in countries better prepared and equipped to fight the pandemic. The country's presumed 2021 recovery appears at risk given the central government is increasingly at odds with the private sector after canceling plans for a private brewery in March through public consultation, the analyst said. Further, Ossenbeck noted that Kansas City Southern has outperformed despite these rising risks to a material portion of its revenues. He expects the stock will lag peers as the economic impact accelerates in Mexico. RAIL VOLUMES FALLING: North American rail volume for the week ending last Saturday slipped 16.1% to 596,710 carloads and intermodal units, versus with the same period in 2019, the Association of American Railroads reported on Wednesday. On a year-to-date basis, rail volumes were down 6.7% to nearly 9.1 million carloads and intermodal units. Canadian and Mexican railroads totaled 301,234 carloads, down 16.7 percent compared with the same week last year, and 295,476 intermodal units, down 15.5% compared with last year. PRICE ACTION: Shares of Kansas City Southern are down about 2% to $137.07 in afternoon trading. OTHERS TO WATCH: Other publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Norfolk Southern (NSC) and Union Pacific (UNP).

NSC

Norfolk Southern

$160.80 /

+1.8 (+1.13%)

CSX

CSX

$63.97 /

+0.47 (+0.74%)

CP

Canadian Pacific

$228.74 /

+2.45 (+1.08%)

CNI

Canadian National

$80.01 /

-0.51 (-0.63%)

KSU

Kansas City Southern

$137.52 /

-2.18 (-1.56%)

UNP

Union Pacific

$149.50 /

+ (+0.00%)

GWR

Genesee & Wyoming

$0.00 /

+ (+0.00%)

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NSC Norfolk Southern
$160.80 /

+1.8 (+1.13%)

04/06/20 Stifel
Norfolk Southern resumed with a Hold at Stifel
03/26/20 Evercore ISI
Norfolk Southern initiated with an In Line at Evercore ISI
03/24/20 Citi
Citi slashes rail targets after moving to recession scenario
03/23/20 Morgan Stanley
Morgan Stanley upgrades Freight Transport industry to In-Line, raises 3 stocks
CSX CSX
$63.97 /

+0.47 (+0.74%)

04/08/20
Fly Intel: Top five analyst upgrades
04/08/20 Goldman Sachs
CSX upgraded to Buy from Neutral at Goldman Sachs
04/06/20 Stifel
CSX resumed with a Buy at Stifel
03/27/20 Wolfe Research
CSX upgraded to Outperform from Peer Perform at Wolfe Research
CP Canadian Pacific
$228.74 /

+2.45 (+1.08%)

03/26/20 Evercore ISI
Canadian Pacific initiated with an Outperform at Evercore ISI
03/16/20 Raymond James
Canadian Pacific downgraded to Market Perform from Outperform at Raymond James
CNI Canadian National
$80.01 /

-0.51 (-0.63%)

03/26/20 Evercore ISI
Canadian National initiated with an In Line at Evercore ISI
03/16/20 Raymond James
Canadian National downgraded to Market Perform from Outperform at Raymond James
KSU Kansas City Southern
$137.52 /

-2.18 (-1.56%)

04/09/20 JPMorgan
JPMorgan downgrades Kansas City Southern to Underweight on Mexico COVID risk
04/09/20 JPMorgan
Kansas City Southern downgraded to Underweight from Neutral at JPMorgan
04/06/20 Stifel
Kansas City Southern resumed with a Buy at Stifel
04/01/20 UBS
Kansas City Southern downgraded to Neutral from Buy at UBS
UNP Union Pacific
$149.50 /

+ (+0.00%)

04/06/20 Stifel
Union Pacific resumed with a Hold rating at Stifel
03/26/20 Evercore ISI
Union Pacific initiated with an Outperform at Evercore ISI
GWR Genesee & Wyoming
$0.00 /

+ (+0.00%)

07/18/19 Credit Suisse
Brookfield Infrastructure reinstated with a Neutral at Credit Suisse
07/01/19 Credit Suisse
Genesee & Wyoming upgraded to Neutral from Underperform at Credit Suisse
07/01/19 Stifel
Genesee & Wyoming downgraded to Hold from Buy at Stifel
05/01/19
Genesee & Wyoming downgraded to Underperform at BofA/Merrill

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