Equity Analysis /
United States of America

US : Land Transport - Overall - Rail & Intermodal 4Q20 Preview & 2021 Outlook

    Charles Wohlhuter
    Patrick Tyler Brown
    15 January 2021
    Published byCGS-CIMB

    Cyclical Rotation is On; If History is a Roadmap... Still Room for the Group to Outperform: While we are cognizant of the recent run in the complex (our transport index up 11% vs. the S&P at 8% in the last 3 months) on what appears a clear pro-cyclical rotation in the market, we are generally t