Barclays Raises Numbers on Canadian National Railway (CNI); Negative Coal Sentiment Still Weighs

Barclays maintains an 'Underweight' on Canadian National Railway (NYSE: CNI) price target raised from $82 to $85.

Analyst, Brandon R. Oglenski, said, "CN delivered solid first quarter results as the industry's margin leader benefited from a mild winter, improved cost performance and solid pricing gains...Although we see signs of encouraging earnings development for CN, we still favor greater exposure to the U.S. rails given significant negative coal sentiment."

"Our model moves mostly higher for the year based on the first quarter beat. However, we are also carrying forward more favorable revenue and cost trends creating some upside to prior expectations; 2012 goes to $5.55 from $5.30. (FY13 from $5.95 to $6.05)

For an analyst ratings summary and ratings history on Canadian National Railway click here. For more ratings news on Canadian National Railway click here.

Shares of Canadian National Railway closed at $80.01 yesterday.

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