Canadian National Railway's Valuation Is An Opportunity, Analyst Shifts To Bullish Outlook
1. Stifel upgraded CNI from Hold to Buy, target price reduced to $120. 2. 2024 rail equities down 7%, underperforming S&P's 23% gain. 3. CNI faces volume growth challenges, only 2.2% grow due to disruptions. 4. Anticipated modest volume and pricing improvements in 2025. 5. Expect fourth-quarter revenue decline, annual growth lowered to 1.4%.