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Fly News Breaks for January 4, 2017
CNI
Jan 4, 2017 | 08:03 EDT
As previously reported, Raymond James upgraded Canadian National to Outperform from Market Perform and raised its price target to $104 from $94. Analyst Steve Hansen continues to believe 'bulk pendulum' traffic thesis will result in the return of healthy top-line growth for both Canadian railroads in 2017 following a year of steep volume declines in iron ore, met coal, and frac stand. Further, he sees tailwinds from pension expense relief and lower tax rates in the US.