UPDATE: BMO Capital Markets Upgrades Kansas City Southern to Market Perform Following Pullback

BMO Capital Markets raises its rating on Kansas City Southern

from Underperform to Market Perform and reiterates its $68 PT on shares. BMO Capital Markets comments, "We are upgrading Kansas City Southern to Market Perform from Underperform based on valuation. The stock has pulled back approximately 18% from the post Q1/12 high and is down 16% over the past two weeks while its major Class 1 peers are down 6% on average. At the current level, the stock represents 5.1% upside to our price target of $68." KSU closed at $65.42 on Thursday.