Raymond James lowered the firm’s price target on Canadian National to C$187 from C$190 and keeps an Outperform rating on the shares, following a “light” Q2 print and a downward guidance revision. Despite that, the firm is still Outperform rated, citing a constructive view of the North American traffic outlook, Canadian National’s “appealing” long-term growth prospects, and the stock’s “attractive” relative valuation.
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