Canadian National price target lowered to $126 from $127 at Barclays

Barclays lowered the firm’s price target on Canadian National to $126 from $127 and keeps an Equal Weight rating on the shares. The analyst says transportation earnings will likely be soft as freight demand generally contracted in Q1. However, with valuations mostly below a market multiple, many stocks already reflect a weak environment and destocking suggests fundamentals should improve later this year, the analyst tells investors in a research note.