BMO Capital raised the firm’s price target on Canadian National to C$195 from C$185 and keeps an Outperform rating on the shares. The firm’s recent discussions with the company managemenet have reinforced its conviction in Canadian National’s outlook for mid-single digit volume growth and 10% EPS growth in FY24, the analyst tells investors in a research note. As the rail industry continues its gradual recovery from a bruising five-year decline, cyclical tailwinds and Canadian National’s idiosyncratic growth opportunities will help accelerate its EPS gains in FY25 and FY26, the firm added.
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