Citi lowered the firm’s price target on CN (CNI) to $119 from $121 and keeps a Buy rating on the shares as part of a Q3 preview for the transportation sector. The firm expects “tepid” quarters for most of the group due to soft freight rates and unfavorable supply/demand dynamics.
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Read More on CNI:
- CN, Congebec to collaborate on cold storage facility at Calgary Logistics Park
- CN moves over 2.91M metric tons of grain from Western Canada in September
- CN price target lowered to C$153 from C$154 at JPMorgan
- CN price target lowered to C$180 from C$185 at Morgan Stanley
- CN price target lowered to C$150 from C$153 at Scotiabank