Wells Fargo lowered the firm’s price target on CN (CNI) to $125 from $133 and keeps an Overweight rating on the shares. Wells says that into Q4 results/2025 outlooks, its call remains the same: lean into early cycle. The firm sees signs volume may broaden out to include better industrial freight. Near-term expectations continue to reset, but the direction of fundamentals is positive, Wells adds.
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Read More on CNI:
- CN announces Unifor ratifies four-year tenative collective agreements
- North American rail traffic up 1.5% for the week ending December 14
- North American rail traffic up 2.2% for the week ending December 7
- Largest borrow rate increases among liquid names
- CN reaches tentative collective agreement with Unifor
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