BofA Raises Canadian National Railway (CNI) Target on Strong Operating Performance

Canadian National Railway Company (NYSE:CNI) is included among the Billionaire Ken Fisher’s Top 11 Dividend Stock Picks.

BofA Raises Canadian National Railway (CNI) Target on Strong Operating Performance

On June 3, BofA raised its price recommendation on Canadian National Railway Company (NYSE:CNI) to $132 from $122. It reiterated a Buy rating on the shares. The analyst told investors that operating performance remains strong. The firm also sees several leading indicators pointing to improvement in the industrial economy.

On June 5, Susquehanna raised its price target on CNI to $138 from $128 and kept a Positive rating on the stock. The firm said rail volumes appear to be running ahead of expectations. According to the analyst, ISM readings are “encouraging” and have expanded for five consecutive months. The firm also noted that there are no signs that higher fuel costs are weighing on industrial demand. Earlier that day, Susquehanna increased price targets across the rail sector.

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company. Its services include rail, intermodal, trucking, and supply chain solutions.

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