The Globe and Mail reports in its Thursday, Oct. 26, edition that Desjardins Securities analyst Benoit Poirier has reaffirmed his "buy" recommendation for Canadian National Railway. The Globe's David Leeder writes in the Eye On Equities column that Mr. Poirier's share target fell from $172 to $171. Analysts on average target the shares at $165.08. Despite third quarter financial results falling narrowly below expectations, Mr. Poirier advises to "not let short-term weakness scare you away." He says he sees a "positive signal" to investors from the reiteration of the rail operator's guidance and an increase to its share buyback plan. Mr. Poirier says in a note: "With that being said, despite the earlier grain harvest, we believe the set-up for 4Q remains difficult for intermodal volumes (29 per cent of revenue) given the diverted freight and continued competitive truck rates. In our view, a lot will need to go right for CN to meet its unchanged 2023 target (we now forecast EPS growth of negative 3.6 per cent). ... If further weakening happens, discretionary capex could be re-evaluated. ... CN has more optionality and dry powder at its disposal for increased shareholder returns vs other railroads."