The company’s share price in comparison to its peers may have been one factor driving investors’ interest, Ben Nolan, managing director at Stifel Financial, told BNN Bloomberg in a TV interview on Wednesday.
Some factors that weighed on CN this quarter were no fault of the company, Nolan explained, such as the B.C. port strike and the Nova Scotia floods. Future profitability is another factor that might be keeping investors optimistic on the company’s stock, Nolan added.by 12 per cent to $1.17 billion in the second quarter from $1.33 billion a year earlier, the commitment to future earnings was made clear.
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