UPDATE: Jefferies & Company Reiterates Underperform Rating, Raises PT on Canadian National Railway

In a report published Wednesday, Jefferies & Company reiterated its Underperform rating on Canadian National Railway

, and raised its price target from $79.00 to $84.00. Jefferies noted, “CNI reported inline 4Q:12 EPS as improved cost management offset decelerating revenues. With guidance a tad light and an increasing reliance on topline growth to drive EPS, we see better opportunity elsewhere in transports.” Canadian National Railway closed on Tuesday at $94.44.