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."
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