Canadian National price target lowered to C$150 from C$160 at Barclays

Barclays lowered the firm’s price target on Canadian National to C$150 from C$160 and keeps an Equal Weight rating on the shares. The analyst says Q3 was the fourth consecutive period of a broad-based freight recession with incremental margin pressure for most transports coming from higher fuel prices. However, most North America transportation stocks have lagged, setting up for a better 2024, the analyst tells investors in a research note.