RBC Capital Markets lowered its price target on Canadian National Railway Co. (CNR.TO, CNI) to $171 from $174.

Analyst Walter Spracklin maintained an Outperform rating on shares of the Canadian Class I freight railway.

"CN reported a weak Q4, however not overly unexpected," Spracklin said in a note to clients. "More important is that the guide nicely bracketed consensus, which is key, as we know management wanted to set deliverable targets for 2025 - and given that objective, we therefore view the guide as very encouraging."

"Key is that delivering on this guidance in 2025 will now be paramount; and we believe CN is capable of doing that," the analyst said. "If achieved, which we think it will, we see a meaningful re-rate in the shares - which is core to our positive view."

(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)