Canadian National price target raised to $113 from $109

Barclays analyst Brandon Oglenski raised the firm’s price target on Canadian National to $113 from $109 and keeps an Equal Weight rating on the shares post the Q3 report. Canadian National’s reiterated fiscal 2023 earnings guidance for flat to slightly negative growth comes as a favorable surprise to a market expecting another cut, with improvement in non-international intermodal businesses providing favorable cost leverage to close out the year, the analyst tells investors in a research note.