Expert sees growth opportunities for CN Rail stock despite weak earnings - BNN Bloomberg

📆 26/07/2023 18:30:00
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Investors who pushed Canadian National Railway Company shares higher on Wednesday in spite of the company’s weaker-than-expected earning could be taking a long-term view of the stock’s potential, according to one investment expert.

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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