Jefferies Downgrades Canadian National Railway (CNI) to Underperform

Jefferies downgraded Canadian National Railway (NYSE: CNI) from Hold to Underperform with a price target of $66 (down form $84).

The firm comments, "We believe our call from mid-October — that U.S. freight flows had started to strengthen and that investors should increase risk exposure to our stocks — has become the consensus view, just as our team's short-cycle indicators have turned negative again. Investors also seem likely to use CNI as a source of funds vs. CP as activist pressures build."

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 $76.40 yesterday.

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