CN price target lowered to C$191 from C$195 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker lowered the firm’s price target on CN (CNI) to C$191 from C$195 and keeps an Overweight rating on the shares. The firm believes Q2 results for companies in the North America Freight Transporation industry will be much better than anticipated three months ago, but will likely still not be enough for investors, the analyst tells investors. While the firm would be surprised to see fiscal year guides restored, there is the possibility of the return of investor interest if there is strong July commentary.