Barclays raised the firm’s price target on Canadian National to $130 from $126 and keeps an Equal Weight rating on the shares post the Q1 results. A "mild" increase in earnings guidance and an announcement of an intermodal marketing partnership with Union Pacific and Ferromex "should please investors," the analyst tells investors in a research note. However, increasingly cautious commentary around end markets leaves uncertainty around 2023 expectations, says the firm.
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 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
- Canadian National, Union Pacific, GMXT announce new intermodal service