The Globe and Mail reports in its Tuesday, Jan. 9, edition that Susquehanna analyst Bascome Major has reaffirmed his "neutral" recommendation for Canadian National Railway. The Globe's David Leeder writes in the Eye On Equities column that Mr. Major's share target soared $23 to $143 (all figures U.S.). Analysts on average target the shares at $125.81. Mr. Major says in a note: "We feel good about transport demand into 2024. ... Transports' lingering challenge is stubborn excess truckload capacity (tender rejections still near lows) and the pressure on contractual pricing weighing on profits for truckload carriers, brokers, and intermodal providers that live by this volatile procurement cycle. No, rail isn't entirely immune to truckload pricing, which shows up in some long-term intermodal contracts and modal competition for 'jumpball' freight. But the U.S. rails' challenges that tempered our long-held bullishness in 2022 were more industry-specific, and we believe they've largely played out as rail shares dramatically underperformed since mid-2022 (average price return down 16 per cent vs. XLI, down 13 per cent vs. S&P 500; consensus EPS for 2023/24 both down 16 per cent)."