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Fly News Breaks for January 30, 2020
CP
Jan 30, 2020 | 07:41 EDT
Benchmark analyst Mark Levin initiated coverage of Canadian Pacific with a Buy rating and $295 price target. The company issued "seemingly conservative" full-year EPS guidance, said Levin, who thinks Canadian Pacific has numerous organic growth opportunities and expects its operating ratio to trend down over time to under 58% by 2021. "Even with only modest economic growth, we wouldn't be surprised to see the company post a 56% OR by 2022," added Levin in his initiation note.
News For CP From the Last 2 Days
CP
Jun 4, 2020 | 15:03 EDT
The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending May 30, as well as volumes for May. Total carloads for the week ending May 30 were 179,973 carloads, down 24.2% compared with the same week in 2019, while U.S. weekly intermodal volume was 215,741 containers and trailers, down 10.6% compared to 2019. North American rail volume for the week ending May 30, on 12 reporting U.S., Canadian and Mexican railroads totaled 264,612 carloads, down 22.8% compared with the same week last year, and 293,159 intermodal units, down 9.9% compared with last year. Total combined weekly rail traffic in North America was 557,771 carloads and intermodal units, down 16.5%. North American rail volume for the first 22 weeks of 2020 was 13,698,214 carloads and intermodal units, down 11.6% compared with 2019. 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