BMO Capital Upgrades This Canadian Transportation Company To Outperform - Read Why

  • BMO Capital analyst Fadi Chamoun upgraded Canadian National Railway Co CNR CNI to Outperform from Market Perform.
  • The analyst maintained the Price Target for CNR at C$170.
  • While maintaining the C$170 target price, the analyst sees a potential upside of C$190-C$200 if the demand environment remains favorable and the company executes on the large self-help opportunity.
  • In a more muted demand environment, the analyst believes the downside is limited as initiatives to improve efficiency and revenue quality should enable the company to defend its earnings power.
  • According to Chamoun, 2Q22 operating/service and volume trends are also ahead of expectations, prompting to boost in the forecast.
  • Price Action: CNR shares are trading lower by 1.40% at C$145.51 on TSX, and CNI is lower by 1.89% at $112.97 on NYSE on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsUpgradesPrice TargetAnalyst RatingsBriefsCanada
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!