Stifel cuts PTs on railroad firms ahead of Q1 results

Canadian National Railway

14/04/2025 16:43

** 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))