CN price target raised to $126 from $125 at Citi

Citi raised the firm’s price target on CN (CNI) to $126 from $125 and keeps a Neutral rating on the shares. Results were relatively in-line with lowered expectations reflecting headwinds that the company had previously acknowledged, including the Q3 union work stoppage, wildfires impacting operations, and lower industrial production growth, the analyst tells investors in a research note. The firm said that while the company noted its network continues to be performing well, it is struck by the simplification of excess resources and ample capacity in search of volume against a challenging demand backdrop.