Stifel cuts PTs on railroad firms ahead of Q1 results

Stifel cuts PTs on some railroad operators ahead of Q1 results, including CSX CSX.O, Norfolk Southern NSC.N and Union Pacific UNP.N

Also cuts PTs on U.S.-listed shares of Canadian Pacific Kansas City CP.TO and Canadian National Railway CNR.TO

Brokerage says it expects Q1 results to be in line or slightly lower than previously anticipated

"We expect rails should be somewhat insulated (from tariffs), but still negatively impacted should the economy and trade shrink as is likely the case" - brokerage

Including session's losses, S&P 500 Rail Transportation sub index .SPLRCRAIL down 6% YTD