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Fly News Breaks for April 30, 2019
CNI
Apr 30, 2019 | 07:22 EDT
As previously reported, RBC Capital analyst Walter Spracklin downgraded Canadian National to Sector Perform, even though he continues to recommend the stock as a "long-term holding". The analyst cites the recent stock price appreciation to "historically high valuation" as well as the company's weaker than expected Q1 results that saw weather-related impact on volumes. Spracklin further warns about the risks of a slowing economy, reduced capacity, and volatility in Canadian Nationa's growth sources like coal and crude oil.
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