The Globe and Mail reports in its Friday edition that Citi analyst Christian Wetherbee is sticking with his "neutral" call on Canadian National Railway. The Globe's David Leeder writes that Mr. Wetherbee gave his share target a $7 haircut to $115 (all figures U.S.). Mr. Wetherbee says CN "appears to be controlling what is controllable, as service levels have remained consistent through the West Coast port strike and wildfires." Mr. Wetherbee says in a note: "However, macro trends remain challenging and are negatively impacting CN's international intermodal business. This will contribute to challenging 3Q23 earnings, but CN remains confident in a significantly better 4Q volume performance as bulk commodities are improving sequentially. Collectively, it appears CN is effectively laying the groundwork to leverage an eventual freight recovery into solid incremental margins, but near-term headwinds and tough early '24 comps suggest some time before the growth inflection becomes apparent. ... We also think that the company is relatively well positioned to compete with CPKC, as multiple commercial rail partnerships have emerged post-merger (most recently with Union Pacific and Norfolk Southern with more likely)."