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Benzinga
Benzinga
Business
Akanksha Bakshi

BMO Capital Upgrades This Canadian Transportation Company To Outperform - Read Why

BMO Capital CNR NYSE TSX Canadian National Railway Environment
  • BMO Capital analyst Fadi Chamoun upgraded Canadian National Railway Co (TSX:CNR) (NYSE:CNI) to Outperform from Market Perform.
  • The analyst maintained the Price Target for CNR at C$170.
  • While maintaining the C$170 target price, the analyst sees a potential upside of C$190-C$200 if the demand environment remains favorable and the company executes on the large self-help opportunity.
  • In a more muted demand environment, the analyst believes the downside is limited as initiatives to improve efficiency and revenue quality should enable the company to defend its earnings power.
  • According to Chamoun, 2Q22 operating/service and volume trends are also ahead of expectations, prompting to boost in the forecast.
  • Price Action: CNR shares are trading lower by 1.40% at C$145.51 on TSX, and CNI is lower by 1.89% at $112.97 on NYSE on the last check Wednesday.
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