CN price target lowered to $130 from $133 at Stifel

Stifel analyst Benjamin Nolan lowered the firm’s price target on CN to $130 from $133 and keeps a Hold rating on the shares. While international intermodal volumes are up, it “sounds like pricing continues to struggle” as cheap trucking seems to continue to create a challenging ceiling, the analyst tells investors in a preview for the rail group. “Some guidance has already been cut, and we expect it may be hard for the rails to remain at the lower end of the current guidance ranges,” the analyst added.