Canadian National Railway (CNI) PT Raised to $122 at Citi

Citi analyst Ariel Rosa raised the price target on Canadian National Railway (NYSE: CNI) to $122.00 (from $119.00) while maintaining a Buy rating.

The analyst comments "CNI reported 4Q24 adj. EPS of C$1.82, missing our/Street est. of $1.94/$1.92. Shares moved down -1% after hours on an in-line to slightly lower guide for ’25 and a 4Q miss that was driven by Adj. Operating Ratio that was short of target despite beats in volume, pricing, and revenue. The company guided to ‘25 adj. EPS growth of +10% to +15% y-y with a +12.5% midpoint just below our prior +13% est. Its ‘25 volume growth guide of +L/MSD% for RTMs is roughly in-line with to slightly below our +3.7%. Overall, the results reflected a challenging quarter for CN on the harsh winter weather and labor disruptions that drove up dwell times and operating ratio. However, with weather and labor issues behind it, CN appears poised for upside in ’25, in our view, given an easy ’24 comp and attractive valuation. Maintain Buy."

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