ATB Capital Markets lowered its price target on Canadian National Railway Co.(CNR.TO, CNI) to $165 from $168.
Analyst Chris Murray maintained a Sector Perform rating on shares of the Canadian railway ahead of its Q2 results on January 30.
"CN reported weaker-than-expected volumes in Q4/24, reflecting the impact of work stoppages at key Canadian ports and softer levels of industrial production," Murray said in a note to clients.
"Our estimates for Q4/24 have been revised lower to account for volume weakness, with 2024e EPS below guidance," the analyst said.
"Guidance for 2025 is anticipated with Q4/24 results. While we expect CN's outlook to call for stronger growth in 2025, we see potential for conservative guidance given macro conditions and the threat of tariffs."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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