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  5. CNR: Could you provide some insight on what TRI & DSG are saying about their future prospects and is their moat real and believeable? [Canadian National Railway Company]
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Q: Could you provide some insight on what TRI & DSG are saying about their future prospects and is their moat real and believeable? In the case of CNR, whenever the political tiddlywinks ends, they will eventually be filling freight cars. TRI & DSG seem to be more exposed to sentiment, which is a bit like guessing which way the cat will jump. Thank you
Asked by Delbert on February 03, 2026
5i Research Answer:

TRI is getting hit today on more AI fears (see comments posted). We have also just posted comments on DSG. Both companies have not 'reacted' to sentiment concerns, but likely will when their Q4 numbers come out. Certainly both are being driven by fear right now and not numbers. CNR does look safer, being largely exempt from AI-kills-software panic.