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Fly News Breaks for September 25, 2018
CNI
Sep 25, 2018 | 06:59 EDT
Citi analyst Christian Weatherbee upgraded Canadian National Railway to Buy from Neutral and raised his price target for the shares to $100 from $90. The analyst left meetings with management constructive that the "heavy lifting" of fixing the company's network and adding capacity is largely complete and should pay dividends through "robust" volume growth, greater fluidity, and lower costs. And this improvement coincides with easier comps, as Canadian National's network "was greatly stressed into the winter of last year from a surge in volume and bad weather," Weatherbee tells investors in a research note. He sees upside to 2019 estimates.