Canadian National price target raised to $140 from $131 at BofA

BofA analyst Ken Hoexter raised the firm’s price target on Canadian National to $140 from $131 and keeps a Buy rating on the shares after the company named Ed Harris, who was previously COO from 2005-2007, as EVP and chief operating officer. He believes this hiring is "a positive move to re-establish the CN leadership training bench and operational methodology that made CN the industry leader for 20+ years," Hoexter tells investors. Following the news, Hoexter lifted his target multiple in anticipation of EPS upside and operational improvement under Harris’ tenure.