{"id":528708,"date":"2010-04-15T09:51:00","date_gmt":"2010-04-15T13:51:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:423499"},"modified":"2010-04-15T09:51:00","modified_gmt":"2010-04-15T13:51:00","slug":"rail-recovery-well-underway-but-not-unnoticed","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/528708","title":{"rendered":"Rail recovery well underway, but not unnoticed"},"content":{"rendered":"

It appears that those green shoots emerging in the Canadian rail sector in recent months are now in full bloom. But the transition has not gone unnoticed by investors, according to Steven Hansen, Raymond James analyst.<\/span><\/font><\/p>\n

\u201cWeekly volumes are not only improving, but also surging to fairly robust levels\u2014in some cases recovering to pre\u2010recession levels,\u201d Mr. Hansen said in a note to clients Thursday.
\n<\/span><\/font><\/p>\n

In the first 13 weeks of 2010, Canadian and North American carload originations swelled 12.5% and 6.7% respectively, he noted. At Canadian National Railway Co. carload volumes have increased 14.6% during the first quarter compared to last year, while its smaller rival, Canadian Pacific Railway Ltd., has seen growth of 9.1% in its carloads.
\n<\/span><\/font><\/p>\n

\u201cWe believe it is fair to say that the recovery has safely advanced from a fragile, nascent state, to one of reasonable health and vigour,\u201d Mr. Hansen said.
\n<\/span><\/font><\/p>\n

He upgraded his earnings estimates on both CN and CP accordingly. But cautioned that the recovery hasn\u2019t gone unnoticed with both stocks experiencing run-ups in their shares as volumes returned.
\n<\/span><\/font><\/p>\n

Mr. Hansen increased his price target for CP to $68 a share, compared to $65 previously, and maintained his \u201coutperform\u201d rating. <\/span><\/font><\/p>\n

But while he also increased his price target for CN to $67, from $64.50 previously, he downgraded it to a \u201cmarket perform\u201d due to the recent appreciation of its shares. <\/span><\/font><\/p>\n

Both CN and CP will report their first quarter results in two weeks. <\/p>\n

Scott Deveau
\n<\/span><\/font>\n<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

It appears that those green shoots emerging in the Canadian rail sector in recent months are now in full bloom. But the transition has not gone unnoticed by investors, according to Steven Hansen, Raymond James analyst. \u201cWeekly volumes are not only improving, but also surging to fairly robust levels\u2014in some cases recovering to pre\u2010recession levels,\u201d […]<\/p>\n","protected":false},"author":6368,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-528708","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/528708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/6368"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=528708"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/528708\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=528708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=528708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=528708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}