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The recently passed bi-partisan $1.2 trillion infrastructure bill includes $66 billion in freight and passenger rail investment, which should significantly boost the industry’s prospects. According to the Federal Railroad Administration, 28% of U.S. freight is moved around the country by rail, which is likely to increase substantially in the next couple of decades. In addition, the demand for battery-electric trains is also surging, owing to increased environmental concerns and cost savings.
So, we think it could be wise to add quality railroad stocks CSX Corporation (NASDAQ:CSX), Norfolk Southern Corporation (NYSE:NSC), and Westinghouse Air Brake Technologies Corporation (NYSE:WAB) to one’s portfolio now. They are expected to gain this month and beyond.
