An analyst firm has come out with some rail stocks to watch in 2023, now that concerns about a disruptive strike have ebbed. President Joe Biden signed a bill earlier this month imposing a deal on rail-freight workers.
“Labor no longer appears to be the nuclear risk , supply chain disruptions have ebbed meaningfully, and comparisons have few anomalies to consider,” Evercore analyst Jonathan Chappell wrote in a note released on Tuesday. “That said, there is plenty of risk as it relates to the macro backdrop and how nimble rails can be in a weaker-than-expected volume environment.”
Evercore also raised its price target for CSX Corp. CSX to $37 from $32. “We like the rails overall as an investment, but we prefer those with the most attractive relative valuation, namely CSX,” Chappell wrote. CSX Corp.’s stock ended Monday’s session down 1.4%.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
33 biotech and healthtech companies to watch in 2023Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Honoured to be included in such a prestigious list of promising companies. Thanks for the recognition
Source: BusinessInsider - 🏆 729. / 51 Read more »