Loop Capital analyst Rick Paterson downgraded Canadian Pacific Railway to Hold from Buy with a C$340 price target.

The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending February 20. For this week, total U.S. weekly rail traffic was 377,904 carloads and intermodal units, down 21.7% compared with the same week last year. Total carloads for the week ending February 20 were 171,642 carloads, down 26.3% compared with the same week in 2020, while U.S. weekly intermodal volume was 206,262 containers and trailers, down 17.4% compared to 2020. North American rail volume for the week ending February 20, on 12 reporting U.S., Canadian and Mexican railroads totaled 257,127 carloads, down 22.2% compared with the same week last year, and 286,467 intermodal units, down 11.9% compared with last year. Total combined weekly rail traffic in North America was 543,594 carloads and intermodal units, down 17.1%. North American rail volume for the first seven weeks of 2021 was 4,725,082 carloads and intermodal units, up 0.4% compared with 2020. 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