Wells Fargo Upgrades Canadian National Railway (CNI) to Overweight

Wells Fargo analyst Christian Wetherbee upgraded Canadian National Railway (NYSE: CNI) from Equal Weight to Overweight with a price target of $125.00.

The analyst comments "Upgrade CN to OW - We are upgrading Canadian National to Overweight from Equal Weight and reiterating our $125 target. While estimates for 3Q24 are coming down, the impact is largely from its strike and wildfires, which aid the set-up for '25. Collectively, we see ~40c of one time headwinds to '24, which helps bridge '25 to a return of DD EPS growth. Further, in an uncertain macro/freight environment we feel more confident in Canadian volume growth fueling better EPS growth than some peers.

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 $113.54 yesterday.

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