UPDATE: BMO Capital Markets Downgrade Kansas City Southern on Valuation
BMO Capital Markets reduced its rating on Kansas City Southern (NYSE: KSU) from Market Perform to Underperform with a reiterated $70 price target.
BMO Capital Markets commented, "We are lowering our rating to Underperform from Market Perform on the basis of the following: (1) valuation appears to be at its peak versus the 5-year historical average and relative to the overall market and offers little room for upside, and (2) earnings estimates for Q4/12 and 2013 appear somewhat optimistic. We expect modest downward earnings revisions given weaker agriculture and coal segments and a generally slowing economy."
Kansas City Southern closed at $83.95 on Friday.
Latest Ratings for KSU
|Feb 2015||JP Morgan||Initiates Coverage on||Overweight|
|Jan 2015||Credit Suisse||Maintains||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.