UPDATE: Bank of America Reiterates Neutral Rating, Raises PT on Kansas City Southern on Multiple Positive Factors

In a report published Friday, Bank of America analyst Ken Hoexter reiterated a Neutral rating on Kansas City Southern

, and raised the price target from $113.00 to $125.00. In the report, Hoexter noted, “KCS benefits from the rebounding economy, and in particular, the manufacturing sector, which is providing KCS with industry leading volume growth. KCS' revenues are driven mainly by Industrial, Chemical, and Ag (to a lesser extent Coal, Intermodal, & Autos). Additionally, KCS has solid exposure to growing cross-border traffic, the port of Lazaro Cardenas, and Auto manufacturing in Mexico. Due to this growth, KCS' shares have typically traded at a premium to the other Class I rails.” Kansas City Southern closed on Thursday at $116.19.