CN price target raised to $98 from $97 at Barclays

Barclays raised the firm’s price target on CN (CNI) to $98 from $97 and keeps an Equal Weight rating on the shares. The firm adjusted targets in North America transportation as part of a Q1 preview. Freight fundamentals are showing positive signs in Q1, “signaling a likely consistent outlook from most management teams,” the analyst tells investors in a research note. The firm says higher fuel prices and surcharge revenue lags will have a negative impact on near-term earnings, but could drive higher yields this year.