Stifel lowered the firm’s price target on Canadian Pacific Kansas City to $75 from $78 and keeps a Hold rating on the shares. While Q1 intermodal volume was "awful," most other areas were "not that bad," the analyst tells investors. Additionally, diesel prices have come down from previous highs, which should yield lower fuel expenses, but costs, particularly labor, will continue to rise. Stifel expects the next quarter to continue to be choppy, but views valuations of the U.S. rails as relatively attractive.
Published first on TheFly
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