Company News

BUZZ-CN Rail: Chugs to life-high after stronger earnings forecast

** U.S.-listed shares of Canada’s largest railroad up 4.2 pct at $88.52 to life-high after co raises FY adj EPS outlook and beats estimates on Q2 profit

** CN Rail’s Canadian-listed shares, up 3.6 pct at C$115.98, also touches life high and is the top boost to the Toronto Stock Exchange 300 Composite Index

** As many as 12 brokerages bump up PTs on CN Rail; Cowen & Co most bullish with $98 PT, up by $1

** Cormark Securities says co’s growth is above normal levels but is expected to slow after 2019

** CN’s largest steel customers are in U.S. and are more likely to benefit from tariffs; benefit they will receive will more than outweigh any lost business from Canadian customers - Cowen & Co

** So far this year, CNI has risen 7.3 pct, while CNR has risen 11.9 pct (Reporting by Anirban Paul in Bengaluru)