CIBC raised its price target on Canadian National Railway (CNI) to C$155 from C$146 on May 21, 2025, while maintaining a Neutral rating on the shares. The adjustment reflects an improved sentiment across the freight transportation sector.
This improved sentiment is attributed to a 90-day delay in the imposition of 145% tariffs on Chinese goods, along with a corresponding reduction on U.S. goods imported to China to 10%. These developments are seen as de-risking the outlook for the freight sector.
The analyst's rationale indicates that a reduction in trade tensions can positively impact the operational environment for rail companies like CN, leading to a more favorable market outlook.
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