UPDATE: Credit Suisse Reiterates Neutral Rating, Lowers PT on Canadian National Railway
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
|Aug 2016||Atlantic Equities||Initiates Coverage on||Buy|
|Jul 2016||Raymond James||Upgrades||Market Perform||Outperform|
|Jun 2016||Argus Research||Initiates Coverage on||Neutral||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.