CIBC Capital Markets lowered its price target on Canadian National Railway Co. (CN.TO, CNI) to $157 from $162 (Neutral) and Canadian Pacific Kansas City Ltd. (CP.TO, CP) to $124 from $128 (Outperformer).
"We have adjusted our model to reflect Q1/25 volume trends and to incorporate our revised FX forecast," analyst Kevin Chiang said in a note to clients.
"On average, our Q1/25 EPS estimates for CN and CPKC decline by approximately 5% to reflect the challenging February weather conditions," Chiang said.
"That said, we expect both rails to maintain their 2025 outlooks when they report their first-quarter results."
(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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