Monday, May 19, 2008 2:48:49 PM
Monday May 19, 2:20 pm ET
Railroads hit all-time highs after analyst lifts largest rail to 'Buy,' citing growth plan
http://biz.yahoo.com/ap/080519/railroads_sector_snap.html?.v=2
NEW YORK (AP) -- Railroad stocks jumped to new all-time highs Monday, after a Stifel Nicolaus analyst upgraded Union Pacific Corp. to "Buy" from "Hold," suggesting a new management plan should boost shares over the next several years.
Analyst John G. Larkin said Union Pacific management's aggressive growth plan, combined with a defensive strategy against a weak economy and soaring fuel costs, could drive shares more than 20 percent in the next three to three and a half years. Union Pacific is North America's largest railroad by revenue.
"(Chief Executive) Jim Young's comprehensive 'blocking and tackling' approach seems to be gaining steady traction across the entire company and across all the functional railroad disciplines," Larkin said in a note to clients.
Larkin said the Omaha, Neb.-based company has a significant opportunity to grow earnings through productivity improvement. He also noted the company will likely aim to spend its money wisely in its strongest franchise markets.
He issued a 12-month price target of $182, and raised his estimates for 2008, 2009 and 2010.
Longbow Research analyst Lee Klaskow also raised his 2008 and 2009 estimates for Union Pacific, citing "the continued strong pricing environment and management's renewed focus on its bottom line."
In afternoon trading, Union Pacific jumped $5.28, or 3.5 percent, to $158.28. The stock hit an all-time high of $159.65 earlier.
Burlington Northern Santa Fe Corp. added $2.87, or 2.6 percent, to $111.43. Shares reached an all-time high of $112.40 earlier.
CSX Corp. gained $2.78, or 4.2 percent, to $68.32. The stock reached an all-time high of $68.87 earlier.
Norfolk Southern Railway Co. rose $2.07, or 3.2 percent, to $66.38, after hitting a new all-time high of $66.74 earlier.
Kansas City Southern lifted $1.99, or 4.2 percent, to $48.99, after reaching a new all-time high of $49.13 earlier.
Canadian National Railway Co. gained $1.29, or 2.3 percent, to $58.16, after hitting an all-time high of $58.50.
Canadian Pacific Railway Ltd. rose $2.75, or 3.8 percent, to $76. Its all-time high is $90.15.
PEAK OIL #board-6609
PEAK OIL - SUSTAINABLE LIVING #board-9881
PEAK NATURAL RESOURCES #board-12910
PEAK WATER #board-12656
Recent CNI News
- CN Announces First Quarter Results • GlobeNewswire Inc. • 04/23/2024 08:06:50 PM
- CN Declares Second-Quarter 2024 Dividend • GlobeNewswire Inc. • 04/23/2024 08:06:00 PM
- CN Announces Remi G. Lalonde as Chief Commercial Officer • GlobeNewswire Inc. • 04/18/2024 08:30:00 PM
- CN Continues to Advance Decarbonization Efforts with EMD® Mainline Hybrid Locomotive from Progress Rail • GlobeNewswire Inc. • 04/05/2024 11:00:00 AM
- CN to Report First-Quarter 2024 Financial and Operating Results on April 23, 2024 • GlobeNewswire Inc. • 04/03/2024 01:00:00 PM
- CN files Shelf Prospectus Qualifying the Issuance of Debt Securities • GlobeNewswire Inc. • 04/02/2024 09:00:00 PM
- CN Releases New Indigenous Policy in Support of its Commitment to Reconciliation • GlobeNewswire Inc. • 03/26/2024 11:00:00 AM
- The Milton Logistics Hub is Critical to North American Supply Chains • GlobeNewswire Inc. • 03/04/2024 05:30:00 PM
- CN Reaches New Tentative Collective Agreement with United Steelworkers • GlobeNewswire Inc. • 03/01/2024 10:15:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/27/2024 05:40:31 PM
- Ghislain Houle and Patrick Whitehead to Address the 45th Annual Raymond James Institutional Investor Conference on March 6 • GlobeNewswire Inc. • 02/23/2024 02:00:00 PM
- CN Files a Notice of Dispute • GlobeNewswire Inc. • 02/16/2024 10:00:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:01:29 PM
- CN’s Sustainability Leadership Recognized through Key ESG Rankings • GlobeNewswire Inc. • 02/12/2024 09:30:00 PM
- Ghislain Houle and Derek Taylor to Address Investor Conferences on February 20 and 21 • GlobeNewswire Inc. • 02/08/2024 09:00:00 PM
- CN Legal Department Awarded Mansfield Certification for Boosting Diversity Within Leadership • GlobeNewswire Inc. • 02/05/2024 07:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/05/2024 06:41:19 PM
- CN’s 2023 Annual Financial Statements and Annual Information Form available on Company Website • GlobeNewswire Inc. • 01/31/2024 10:45:00 PM
- Form 40-F - Registration statement [Section 12] or Annual Report [Section 13(a), 15(d)] • Edgar (US Regulatory) • 01/31/2024 09:55:39 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/31/2024 09:03:18 PM
- Canadian National Railway 4Q Profit Rises Despite Lower Volumes • Dow Jones News • 01/23/2024 09:54:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/23/2024 09:27:31 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/23/2024 09:24:44 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/23/2024 09:14:46 PM
- CN Announces New Normal Course Issuer Bid for Share Repurchase and 7% Dividend Increase • GlobeNewswire Inc. • 01/23/2024 09:06:00 PM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM
Kona Gold Beverages, Inc. Prepares for First Production Run Set to Launch May 17, 2024 • KGKG • Apr 22, 2024 8:30 AM