(The following report appeared at NewRatings.com on January 29.)
NEW YORK — Analysts at Prudential Financial upgrade Burlington Northern Santa Fe (BNI) from “underweight” to “neutral weight.” The target price has been raised from $32.00 to $33.00.
In a research note published yesterday, the analysts mention that Burlington Northern Santa Fe reported Q403 earnings significantly ahead of the estimates. All the business segments of the company, except coal, contributed to the robust freight volume and revenue growth during the quarter, the analysts add. Prudential Financial expects the company to post a 2% revenue growth in 2004 on account of favorable pricing.