The Globe and Mail reports in its Tuesday, Jan. 23, edition that Scotia Capital analyst Konark Gupta continues to rate Canadian National Railway "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gupta advanced his share target by $5 to $173. Analysts on average target the shares at $169. Mr. Gupta says in a note: "We see balanced risk/reward in Canadian National Railway. Shares have outperformed since the market troughed on Oct. 27, 2023, (up 16 per cent in Canada/up 19 per cent in the U.S. vs. TSX up 11 per cent and S&P500 up 16 per cent). We believe the positive inflection in Q4/23 traffic and CNR's large valuation discount to CP helped drive the outperformance, aided by continued strong buybacks. We expect traffic momentum to sustain in 2024, except in Q1 due to tough comps and weather events, driving an EPS growth rebound with the help of margin recovery and continued buybacks. However, we remain on the sidelines given valuation appears full now and our EPS growth outlook could take up to two to three quarters to derisk." The Globe reported on Sept. 28 that Mr. Gupta continued to rate Canadian National Railway "sector perform." It was then worth $146.74.