Benchmark raises PT on US railroads on stronger freight demand
UNP•Price target changes
| Company | New PT | Old PT |
|---|---|---|
| Union Pacific | $325 | $300 |
| CSX | $54 | $48 |
Benchmark lifts targets on Union Pacific and CSX
Benchmark raised its price targets on U.S. railroad operators Union Pacific (UNP) and CSX (CSX) on stronger freight demand.
- The brokerage said intermodal traffic across the industry is rising despite tough year-ago comparisons, driven by strength in domestic freight.
- It maintained its "buy" rating on Union Pacific, saying stronger freight volumes and pricing support a better earnings outlook.
- Benchmark said stronger rail traffic trends support higher earnings expectations for CSX and kept its "buy" rating.
- As of the last close, UNP had risen 24.6% and CSX was up 37.7% year to date.
