RBC Capital Markets lowered its price target on Canadian National Railway Co. (CNR.TO, CNI) to $165 from $171 and on Canadian Pacific Kansas City Ltd. (CP.TO, CP) to $122 from $128 on Monday.

Analyst Walter Spracklin maintained an Outperform rating on both Canadian railway companies, updating his Q1 estimates.

"CPKC continues to trade at a premium to the group - however, this has come off meaningfully since the US election and we view as a compelling opportunity," Spracklin said in a note to clients.

"CN trades below the group despite historically having traded at a premium, which we believe has created an attractive buying opportunity given the network is running very well exiting a tough February as evidenced by car velocity trends," the analyst said.

(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)