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On Thursday, BMO Capital analysts maintained their Outperform rating for Canadian National Railway (TSX:CNR) stock, with a price target of Cdn$168.00. This decision follows a tour hosted by CN Rail in Prince Rupert, British Columbia, earlier this week.
During the tour, BMO Capital analysts were impressed by the numerous development projects underway. These projects are seen as key growth drivers, with the potential to enable strong double-digit growth in volumes through the Prince Rupert gateway over the coming years.
The analysts noted that Canadian National Railway’s volume opportunities could support high-single to low-double digit EPS growth over the medium term. They emphasized that their forecasts remain unchanged.
BMO Capital’s rating and price target reflect confidence in Canadian National Railway’s growth prospects and strategic initiatives. The analysts reiterated their positive outlook for the company’s performance.
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