Goldman Sachs Resumes Canadian National Railway (CNI) at Neutral

Goldman Sachs resumes coverage on Canadian National Railway (NYSE: CNI) with a Neutral and C$89 price target.

The firm comments, "Elevated valuation near the high end of the company's historical average tempers our enthusiasm for the shares at current levels despite our earnings estimates which are 5% above 2012 consensus." Goldman notes the company has an attractive portfolio of commodity exposures (shale, intermodal, less coal) and the company earns a valuation premium to the rail sector due to its industry-leading operating margin.

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 $84.99 yesterday.

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