Stifel analyst Benjamin Nolan maintains $Canadian National Railway (CNI.US)$ with a hold rating, and adjusts the target price from $133 to $130.
According to TipRanks data, the analyst has a success rate of 63.8% and a total average return of 16.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Canadian National Railway (CNI.US)$'s main analysts recently are as follows:
Observations indicate that CN's carload growth is trailing behind the initial estimates for Q3. Additionally, a more conservative approach has been applied to the yield growth trajectory, aligning it with trends seen in other rail companies, which has resulted in adjusted expectations.
While international intermodal volumes have increased, it appears that pricing remains challenging with economical trucking options setting a competitive cap. Some guidance has been reduced, and it may be difficult for rail companies to stay within the lower spectrum of the current guidance ranges.
The company's operations have shown a strong recovery following the strike, presenting a valuation considered inexpensive when compared to historical measures, its peer group, and CP. Moreover, there is a belief in the company's attractive growth prospects, notwithstanding current softness in the industrial economy. This, paired with enhanced network efficiency, paves the way for considerable operating leverage.
Note:
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