National Bank analyst Cameron Doerksen lowered the firm’s price target on Canadian National to C$173 from C$178 and keeps a Sector Perform rating on the shares as part of a broader research note on Canadian Railroad. While the company provided solid long-term growth outlooks at its investor day, economic data have been generally bearish for rail volumes, so a positive inflection point for the rails is not expected to materialize in the coming quarters, the analyst tells investors in a research note.
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