Deutsche Bank-Early Morning Haul Dreaming of transcontinental trip plan-106796856

DeutscheBankIndustryDateGroup1March2024EarlyMorningHaulNorthAmericaIndustryUpdateCanadaUnitedStatesIndustrialsAirFreight&LogisticsDreamingoftranscontinentaltripplanNote:The"EarlyMorningHaul"willtakeashorthiatusnextweekasmember(s)oftheAmitMehrotrateamtravelduringschoolspringbreak.WewillbebackonMonday,March11.ResearchAnalyst+1-212-250-2076Dreamingofatranscontinentaltripplan-WeremainpositiveontheRailroadindustryandourpreferenceforU.S.RailstocksremainsNSC,UNPandCSX(inthatBenMohrorder).WelikeNSCthebestbecauseofalltheroomforimprovement,thoughweResearchAnalystareincreasinglyconvincedmoredramaticchangeisneededpostthecompany's+1-212-250-17084Qresultsandearningscall;UNPisdeliveringonitspromise,andwearemoreconfidentthaneverofthepositivecustomerandfinancialimplicationsfromaCEOChrisRobertsonlikeJimVena;andCSXisahighqualitycompanywithhighqualitypeople,butweResearchAnalystseelessroomforimprovementgivenitsalreadyimpressivestartingpoint.+1-212-250-9995Butbeyondcompanyspecificdriversofbetterperformance,wearealsofocusedonthetotalindustry'snetworkeffectwhenallrailroadsareoperatingproductively.It'spossible,forexample,formorethan50%ofrailtraffictobeinterchangedwithanotherrailroad,particularlyintheEast,sohowrailsworkandoperatetogethercanhavemeaningfulimpactstoserviceandinturnvolume.Distributedon:01/03/202415:14:10GMTThisisahugeoppo...