** Stifel cuts PTs on some railroad operators ahead of Q1 results, including CSX CSX.O, Norfolk Southern NSC.N and Union Pacific UNP.N
** Also cuts PTs on U.S.-listed shares of Canadian Pacific Kansas City CP.TO and Canadian National Railway CNR.TO
** Brokerage says it expects Q1 results to be in line or slightly lower than previously anticipated
** "We expect rails should be somewhat insulated (from tariffs), but still negatively impacted should the economy and trade shrink as is likely the case" - brokerage
** Including session's losses, S&P 500 Rail Transportation sub index .SPLRCRAIL down 6% YTD
Company | New PT | Old PT | Rating |
Union Pacific | $248 | $270 | "buy" |
Norfolk Southern | $247 | $265 | "hold" |
CSX | $34 | $37 | "buy" |
Canadian National Railway | $115 | $125 | "hold" |
Canadian Pacific Kansas City | $79 | $85 | "buy" |
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
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