Jefferies Raises Numbers on Canadian National (CNI) Ahead of Q4

Jefferies raised estimates and its price target on Hold-rated Canadian National Railway (NYSE: CNI) from $76 to $84 ahead of Q4 earnings for the group.

The firm see more beats than misses in 4Q as the peak shipping season proved better than feared. They see the biggest downside risk at Canadian Pacific (NYSE: CP) and Heartland Express (Nasdaq: HTLD), where they are 24% and 14% below consensus, respectively. CSX (NYSE: CSX) and Knight Transportation (NYSE: KNX) appear to set up well vs. Street estimates, they said.

The firm raised CNI EPS estimates for the current quarter from $1.33 to $1.34, FY from $4.95 to $4.96 and next year from $5.42 to $5.52.

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 $78.56 yesterday.

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