Canadian National price target lowered to C$187 from C$190 at Raymond James

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.