Wells Fargo raised the firm’s price target on Canadian National to $125 from $115 and keeps an Equal Weight rating on the shares. The firm notes the company reported "a beat and raise" as expected, while outlook raise was in line with its view. However, its traffic outlook remains tempered, notably intermodal, Wells says, adding that offsetting productivity will be incremental cost headwinds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CNI:
- CN Announces Election of Directors
- Canadian National price target raised to $130 from $126 at Barclays
- Canadian National Railway (TSE:CNR) Reports Strong Q1 Earnings, Raises Guidance
- CN ups FY23 adjusted EPS view to up mid single digits from up low single digits
- Canadian National reports Q1 EPS C$1.82 vs. C$1.32 last year