10:51 AM EDT, 05/02/2025 (MT Newswires) -- CN Rail's first-quarter results were better than expected, notes RBC. Management also maintained its full year guidance for low- to mid-single digit volumes and EPS growth of 10%-15%, which was "encouraging."

Management also pointed to an "air pocket" that is expected to cause volumes to come off in the second quarter, writes analysts Walter Spracklin and James McGarragke. The appreciation in CAD since the guidance was issued in January will be a sequential headwind if sustained.

"All that said, valuation remains compelling in our view, and we reiterate our OP rating." Target trimmed by $2, to $163.

Price: 136.75, Change: +4.37, Percent Change: +3.30