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BUZZ-Stifel raises PT for U.S. rails on long-term growth prospects

Reuters · 04/12 11:48

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BUZZ-Stifel raises PT for U.S. rails on long-term growth prospects

** Stifel raises PT for U.S. railroad companies CSX CSX.O to $39 from $37; for Norfolk Southern NSC.N to $244 from $233 and for Union Pacific UNP.N to $248 from $231

** "We are adjusting our target prices against our 2025 forecasts," it said

** The brokerage rates CSX at "buy", UNP and NSC at "hold"

** "The first quarter is usually the most challenging quarter of the year for the rails, and despite healthy intermodal volumes and generally mild winter conditions, this year is unlikely to be an exception," said Stifel

** Low gas prices have caused a sharp decline in coal demand/carloads which is offsetting gains elsewhere - Brokerage

** "We do expect the Class 1's (rails) to realize earnings growth this year and , but at a lower pace than is currently reflected in consensus ," it added

** YTD, CSX up 2.19%, NSC up 5.65% and UNP down 3.85%

(Reporting by Abhinav Parmar)

((Abhinav.parmar@thomsonreuters.com))

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