Wells Fargo, Stephens See 4% Downside In Canadian National Railway - Canadian National Railway (NYSE:CNI)

Analysts raised the price target on Canadian National Railway CNI after Q3 results.
Wells Fargo analyst Allison Poliniak-Cusic raised the price target to $125 (implying a downside of 4.8%) from $118 and maintained an Equal Weight rating on the shares.
The analyst mentions that Canadian National posted an adjusted EPS of C$1.52 in Q3, beating her C$1.44 estimate and C$1.41 consensus, with the upside relative to her estimate coming from sales and operating performance.
BMO Capital analyst Fadi Chamoun raised the price target to C$160 from C$155 and maintained a Market Perform rating on the shares after its Q3 results.
Chamoun noted the company's CEO, J.J. Ruest announced his departure just five weeks after announcing the new 2022 financial targets. While its profit improvement potential is significantly greater than what is currently contemplated, it remains to be seen whether the new leadership will become the catalyst to unlock the upside opportunity for Canadian National.
Stephens & Co. analyst Justin Long raised the price target to $126 (implying a downside of 4%) from $120 and maintained an Equal-Weight rating on the shares.
Price Action: CNI shares are trading higher by 5.6% at $131.34 on the last check Wednesday.