Market Overview

UPDATE: Credit Suisse Reiterates Neutral Rating, Lowers PT on Canadian National Railway

Share:
Related CNI
Halfway Through Q3, Loop Capital And Deutsche Bank Review Railroad Names
Could Q2 Mark The Bottom For Canadian National Railway's Volume Woes?
Transports Week In Review: Weaker Performance Ensues As Potential For Rate Increase Lingers (Seeking Alpha)

In a report published Wednesday, Credit Suisse reiterated its Neutral rating on Canadian National Railway (NYSE: CNI), but lowered its price target from $92.00 to $90.00.

Credit Suisse noted, “CNI reported Q3 EPS of $1.52 which was in line with consensus and ahead of our $1.48 estimate. However, the 'beat' relative to our estimate came from higher 'other' income and a lower tax rate as operating profit was just 30 bps (or $3 million) higher. The lower tax rate (27.7% vs. 29.0%) added two pennies relative to our estimate.”

Canadian National Railway closed on Tuesday at $86.99.

Latest Ratings for CNI

DateFirmActionFromTo
Aug 2016Atlantic EquitiesInitiates Coverage onBuy
Jul 2016Raymond JamesUpgradesMarket PerformOutperform
Jun 2016Argus ResearchInitiates Coverage onNeutralBuy

View More Analyst Ratings for CNI
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

 

Related Articles (CNI)

View Comments and Join the Discussion!