BUZZ-Bernstein raises rail operators' PT expecting stronger carload outlook

Reuters

Jul 08, 2025

BUZZ-Bernstein raises rail operators' PT expecting stronger carload outlook

** Bernstein lifts price target on rail operators CSX CSX.O, Norfolk Southern NSC.N and Union Pacific UNP.N, driven by better-than-expected carload volumes, improved market sentiment and attractive stock valuations

** Says carload volumes came in slightly above expectations for the quarter, helping rail stocks recover after a broader market dip earlier in Q2 caused by U.S. trade policy concerns

** Brokerage has updated its rail models to reflect slightly stronger volumes, with UNP benefiting from strong coal demand and better pricing power

** However, it says CSX and NSC may face some coal-related volume pressure

** Rating of Norfolk and Union Pacific unchanged at "outperform" and CSX unchanged at "market-perform"

** As of last close, S&P 500 Rail Transportation (Sub Ind).SPLRCRAIL had risen 4.6% YTD

Companies	New PT	Old PT	Upside to the stock's last close
CSX	$36	$30	8.9%
Norfolk	$295	$258	13.5%
Union Pacific	$271	$267	15.1%

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com;))

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expecting stronger carload outlook </title></head><body><p>** Bernstein lifts price target on rail operators CSX <span>CSX.O</span>, Norfolk Southern <span>NSC.N</span> and Union Pacific <span>UNP.N</span>, driven by better-than-expected carload volumes, improved market sentiment and attractive stock valuations</p><p>** Says carload volumes came in slightly above expectations for the quarter, helping rail stocks recover after a broader market dip earlier in <a href=\"https://laohu8.com/S/QTWO\">Q2</a> caused by U.S. trade policy concerns</p><p>** Brokerage has updated its rail models to reflect slightly stronger volumes, with UNP benefiting from strong coal demand and better pricing power</p><p>     ** However, it says CSX and NSC may face some coal-related volume pressure</p><p>** Rating of Norfolk and Union Pacific unchanged at \"outperform\" and CSX unchanged at \"market-perform\"</p><p>** As of last close, S&amp;P 500 Rail Transportation (Sub Ind)<span>.SPLRCRAIL</span> had risen 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19:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Bernstein raises rail operators' PT expecting stronger carload outlook </title></head><body><p>** Bernstein lifts price target on rail operators CSX <span>CSX.O</span>, Norfolk Southern <span>NSC.N</span> and Union Pacific <span>UNP.N</span>, driven by better-than-expected carload volumes, improved market sentiment and attractive stock valuations</p><p>** Says carload volumes came in slightly above expectations for the quarter, helping rail stocks recover after a broader market dip earlier in <a href=\"https://laohu8.com/S/QTWO\">Q2</a> caused by U.S. trade policy concerns</p><p>** Brokerage has updated its rail models to reflect slightly stronger volumes, with UNP benefiting from strong coal demand and better pricing power</p><p>     ** However, it says CSX and NSC may face some coal-related volume pressure</p><p>** Rating of Norfolk and Union Pacific unchanged at \"outperform\" and CSX unchanged at \"market-perform\"</p><p>** As of last close, S&amp;P 500 Rail Transportation (Sub Ind)<span>.SPLRCRAIL</span> had risen 4.6% YTD</p><table><tbody><tr><td><p>Companies</p></td><td><p>New PT</p></td><td><p>Old PT</p></td><td><p>Upside to the stock's last close</p></td></tr><tr><td><p>CSX</p></td><td><p>$36</p></td><td><p>$30</p></td><td><p>8.9%</p></td></tr><tr><td><p>Norfolk</p></td><td><p>$295</p></td><td><p>$258</p></td><td><p>13.5%</p></td></tr><tr><td><p>Union Pacific</p></td><td><p>$271</p></td><td><p>$267</p></td><td><p>15.1%</p></td></tr></tbody></table><p> (Reporting by Apratim Sarkar)</p><p> ((Apratim.Sarkar@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BD4GTV84.USD","symbol_name":"LEGG MASON CLEARBRIDGEINFRASTRUCTURE VALUE \"A\" (USDHDG) 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NSC.N and Union Pacific UNP.N, driven by better-than-expected carload volumes, improved market sentiment and attractive stock valuations** Says carload volumes came in slightly above expectations for the quarter, helping rail stocks recover after a broader market dip earlier in Q2 caused by U.S. trade policy concerns** Brokerage has updated its rail models to reflect slightly stronger volumes, with UNP benefiting from strong coal demand and better pricing power     ** However, it says CSX and NSC may face some coal-related volume pressure** Rating of Norfolk and Union Pacific unchanged at \"outperform\" and CSX unchanged at \"market-perform\"** As of last close, S&P 500 Rail Transportation (Sub Ind).SPLRCRAIL had risen 4.6% YTDCompaniesNew PTOld PTUpside to the stock's last closeCSX$36$308.9%Norfolk$295$25813.5%Union Pacific$271$26715.1% (Reporting by Apratim Sarkar) 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