The unloved property company was trading at $1.56 when flagged and yesterday it closed at $1.785, up 14% in the past month or so to be the 2nd best performer on the list. We still like CNI and have a medium-term target of ~$2.50, expecting the share price to continue to make higher lows, and higher highs. Yielding 6.3% and trading on 12x we think this remains a standout property pick.
MM remains bullish CNI ~$1.80
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