Jefferies maintained an Underperform rating on Canadian National Railway CNI and increased its price target from $69 to $72.
Jefferies wrote, “CNI beat 2Q expectations and modestly raised 2012 guidance. Even still, limited margin expansion opportunities and a shift to a topline story seems less attractive vs. other transport names. Reiterate Underperform.”
Canadian National Railway closed at $85.53 on Wednesday.
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