North American crude-laden carloads have surged by more than 50-fold
since 2009 and there appears to be no end to the growth in sight,
analyst Steve Hansen said.
He said both Canadian National Railway
Co. and its smaller domestic rival, Canadian Pacific Railway Ltd., will
play an important role in the evolution of this business in the years
ahead.
As a result, Hansen on Monday raised his price target on CN
to $115 a share, from $92 previously, and raised his rating on the
stock to outperform.
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