November 30, 2017 / 12:25 PM / a year ago

BUZZ-Deutsche Bank cuts CN Rail PT on weaker volume trends

** Deutsche Bank cuts PT on Canadian National Railway Co , following Credit Suisse Industrials conference on Wednesday

** CN’s CFO Ghislain Houle said Q4 will be bit more difficult due to an early winter; Setting stock up for its worst one-day drop since mid-May

** DB lowers 2018 & 19 est on CN; Cuts PT to $70 from $73 due to weaker volume trends and additional margin pressures

** Loop Capital maintains “sell” rating on Norfolk Southern Corp, also maintains PT of $120

** NSC CFO Cynthia Earhart indicated network issues (due to hurricanes) likely bottomed during week ending Nov. 10, adding investors should expect a rebound from here; Stock closed up ~5 pct on Wednesday

** Struggling railroads love public holidays, it’s a lower volume week and an extra day to play catch up on backlogs and re-position power and crews - Loop Capital Analyst Rick Paterson

** On a YTD basis: CN’s U.S. stock up ~13 pct vs ~14 pct rise in NSC shares (Reporting by John Benny in Bengaluru; Editing by Shounak Dasgupta)

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