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CNR:CC - Railroad industry still facing cost/wage inflation lower volume headwinds
Canadian National Railway Company
2024-07-08 10:36:29 ET
Although there’s been improvement over the past 4 months in carloads, the railroad industry is entering the third year of an “elongated” recession due to rising inflationary cost pressures and lower volumes. With the added pressure of negative mix, BofA Securities downgraded CSX Corporation ( NASDAQ: CSX ) to Neutral from Buy and lowered its EPS estimates across nearly all the rail stocks. ...