Canadian National Railway upgraded to "overweight"

12/01/05 - Canaccord Capital

NEW YORK, December 1 (newratings.com) - Analysts at Morgan Stanley upgrade Canadian National Railway Co (CY2) from "equal weight" to "overweight." The target price is set to $90.

In a research note published this morning, the analysts mention that the company has recently released its first five-year plan. Canadian National Railway intends to achieve annual EPS growth of +10% and efficiency improvements amounting to C$400 million- C$500 million during the five-year term.