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CP - Canadian Pacific Railway News Story

C$367.92 4.4  1.2%

Last Trade - 4:56pm

Sector
Industrials
Size
Large Cap
Market Cap £28.33bn
Enterprise Value £33.66bn
Revenue £4.53bn
Position in Universe 14th / 2678

BUZZ-North America railroads rise after Evercore raises PT as volumes begin to recover

Wed 20th May, 2020 6:07pm
** North American railroads up after Evercore ISI raises PT,
citing likely easing of deep shipment volume pain due to the
coronavirus crisis, with a reversal beginning to unfold as
volumes enter a period of recovery
    ** Based on trends in Evercore ISI's leading indicator
survey data, there is now line of sight on an imminent bottoming
in carloads across most integral segments of the railroad
freight mix - analyst Jonathan Chappell
    ** Barring a painful second-wave of setback, a volume
inflection point by early- to mid-June could set Q3 and 2020 EPS
estimates up for positive revisions - Chappell
    ** Brokerage upgrades Norfolk Southern Corp  NSC.N  to
"outperform" from "in line", raises PT to $209 from $180
     ** Increases PT for Union Pacific Corp's stock  UNP.N  to
$189 from $165, Kansas City Southern  KSU.N  to $174 from $159
and CSX Corp  CSX.O  to $78 from $67
    ** Raises PT for Canadian Pacific Railway's U.S. listed
shares  CP.N  to $290 from $261, and Canadian National Railway
 CNI.N  to $95 from $89
    ** Shares rise: UNP, NSC, CSX, KSU, CP and CNI all up
between 3% and 5%
    ** YTD, the stocks have fallen between 3% and 10%

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))
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