UPDATE: Bank Of America Reiterates On Kansas City Southern As Meetings Highlight Growth And Pricing

In a report published Thursday, Bank of America analyst Ken Hoexter reiterated a Buy rating on

, and raised the price target from $128.00 to $135.00. In the report, Bank of America noted, “We hosted Kansas City Southern's CFO Michael Upchurch, as well as Bill Galligan and Brian Steadman from Investor Relations for a series of meetings yesterday. The tone was upbeat, as Mr. Upchurch reiterated the significant growth opportunities for KCS over the next few years. He detailed his top growth prospects of auto and crude. The auto prospects focused on new plant construction in Mexico, which should aid cross-border shipments. The crude potential focused on the long-anticipated build-out in the US gulf coast region (including Port Arthur), with a further potential uplift from shale drilling in Mexico as the country moves forward with energy reform legislation.” Kansas City Southern closed on Wednesday at $122.92.