Analysts at Citi Research recently took an in-depth look at rail stocks following a fresh set of volume numbers. With volumes coming in below Citi’s projections, analysts scaled back their Q2 expectations for rail stocks.
Lagging In 2015
Overall, rail stocks have lagged in 2015, dropping 11 percent on average this year. Lagging Q2 volumes are simply more of the same for rail stocks this year after Q1 volumes also came up short of expectations.
“While we believe we are getting close to the end of share price pressure, the setup through the second half of Q2 and into July earnings is choppy, which may keep value buyers on the sidelines near-term,” analysts explain in the report. However, they point to easier comps on the way starting in June.
Second Half Pickup?
Analysts note that carloads remain positive ex-coal and grain. While the weakness in coal will likely persist for a while, Citi believes that…
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