Wells Fargo analyst Allison Poliniak-Cusic raised the firm’s price target on Canadian National to $125 from $110 and keeps an Equal Weight rating on the shares. A recovery of volumes in 2024 and EPS outlook at the low end of its long-term range likely not enough to move shares meaningfully higher, the firm argues. Volumes are challenged to start the year given weather and intermodal, Wells adds.
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