July 9, 2018 / 12:23 PM / 3 months ago

BUZZ-Canadian rail to see strong growth in traffic, prices - Raymond James

** Raymond James raises PTs on Canadian railroad operators, citing robust traffic growth and accelerating pricing momentum

** Upgrades Canadian Pacific Railway Ltd to “Strong Buy” from “Outperform”, raises PT to C$275 from C$260

** Says railways have seen a surge in traffic during Q2, with CP’s energy & chemicals volumes up 29.4 pct and potash up 7.1 pct

** Raises Canadian National Railway PT to C$116 from C$114, helped by 41.8 pct growth in coal volumes and 10 pct rise in metals & minerals

** Sees railway pricing to continue upward on solid demand growth and steep inflation in prices of competing transportation

** Rising oil production in Canada and a shortage of pipelines have forced drillers depend more on rail cars and trucks ship oil out

** 8 of 21 brokerages rate CNR stock “buy” and 13 “hold”; 107, their median PT is C$107

** 13 of 20 brokerages rate CP stock “buy” or higher and 7 “hold”; their median PT is C$259.50

** Up to Friday’s close, CP stock had risen 3.3 pct this year, while CNR rose 3.7 pct over the same period (Reporting by Karan Nagarkatti)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below