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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (58471)	5/1/2019 7:08:20 AM
From: Goose94	Read Replies (1) of 202925

Canadian National Railway (CNR-T) RBC Dominion Securities analyst Walter Spracklin says recent share price appreciation has led to a historically high valuation level for Canadian National Railway. Mr. Spracklin moved his rating to "sector perform" from "outperform" with an unchanged share target of $128. Analysts on average target the shares at $124.67. Mr. Spracklin says in a note: "Despite the weather effect on volumes, which saw Q1 come in at up 3 per cent, management maintained its high-single digit volume growth target for 2019. To meet this target, it implies a very strong volume pace for the remainder of the year -- and we are cautious of risk on three fronts: 1) potential slower growth due to the economy; 2) the volatile nature of certain growth sources (coal and crude); and 3) the capacity risk at CN. Despite these risks, we believe the company has put capital in the right places and our 2019 estimates align with management guidance." Elsewhere, Veritas analyst Dan Fong downgraded CN to "sell" from "buy" with a $120 share target. Citi analyst Christian Wetherbee maintained his "buy" rating.

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