- Deutsche Bank analyst Amit Mehrotra upgraded Canadian National Railway CNI to Buy from Hold and raised the price target to $137 (an upside of 12%), from $129.
- Mehrotra mentions that the market is underappreciating the potential for positive, operational-led management change at Canadian National "after many years of underperformance."
- The analyst estimates the company's existing management and board have leftover $1 billion of profits "on the table" over the last six years, which is worth over $20 billion in equity value at today's valuation levels.
- Mehrotra says this reflects significant underperformance in price and service levels and believes management change will come over the next two months.
- Price Action: CNI shares are trading lower by 0.16% at $122.14 on the last check Friday.
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