UBS Raises Price Target on Kansas City Southern (KSU) Following 2Q Report; Reiterates Buy
UBS reiterated a Buy rating on Kansas City Southern (NYSE: KSU), and raised the price target to $111.00 (from $108.00), following the company's 2Q report. KSU reported EPS of $1.01, slightly below the $1.03 consensus.
Analyst Thomas Wadewitz commented, "KSU's 2Q EPS report was noisy due to the $34 mm pre-tax gain from an unexpected fuel tax rebate in Mexico. Excluding this gain the $1.01/share EPS was slightly below Consensus of $1.03 and above our estimate of $0.99/share. KSU incurred $3 mm of detour costs related to a bridge outage but also benefited from a $5 mm insurance recovery (from a 1Q flooding issue) in the quarter."
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Shares of Kansas City Southern closed at $97.42 yesterday.