The Globe and Mail reports in its Friday, July 14, edition that ATB Capital Markets analyst Chris Murray has lowered his share target for Canadian National Railway to $175 from $180 ahead of the company posting its quarterly earnings on July 25. The Globe's Darcy Keith writes in the Eye On Equities column that analysts on average target the shares at $165.71. Mr. Murray says in a note: "Volume trends weakened in Q2/23 and remained soft in early Q3. Weakness in volumes was driven by intermodal and petroleum and chemical volumes, reflecting the ongoing inventory correction and lower demand from industrial end-markets. Despite macro pressures, CN's operational turnaround appears intact, with key performance metrics demonstrating y/y improvement in Q2/23. Given current macro conditions, we will be looking for commentary from management around volume/yield expectations for H2/23, with the strike at the Port of Vancouver putting additional pressure on intermodal volumes in early Q3." The Globe reported on July 7 that Desjardins Securities analyst Benoit Poirier had reaffirmed his "buy" recommendation for CN. He said he had increased confidence in the company. It was then worth $153.93.