(NewRatings.com posted the following article on its website on May 5.)
NEW YORK -– Analyst David J. Hemme of Prudential Financial reiterates his “hold” rating on Canadian National Railway (CNI). The target price has been raised form $48 to $50.
The analyst expects a recovery in the bulk grain traffic in late 2003 or early 2004 to boost Canadian National Railway’s prospects. The analyst believes that the company’s stock is currently trading close to its reasonable value.