CIBC Forecasts Strong Price Appreciation for Canadian National Railway (TSE:CNR) Stock

Canadian National Railway (TSE:CNR) (NYSE:CNI) had its price target hoisted by investment analysts at CIBC from C$140.00 to C$146.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price objective points to a potential upside of 8.50% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Desjardins reduced their target price on shares of Canadian National Railway from C$155.00 to C$151.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Scotiabank increased their target price on shares of Canadian National Railway from C$150.00 to C$160.00 and gave the company an “outperform” rating in a research report on Monday. TD Securities reduced their target price on shares of Canadian National Railway from C$168.00 to C$165.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Raymond James Financial raised shares of Canadian National Railway from a “hold” rating to a “moderate buy” rating and increased their target price for the company from C$150.00 to C$162.00 in a research report on Thursday, July 17th. Finally, Evercore ISI downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$152.57.

Canadian National Railway Stock Up 0.1%

TSE:CNR traded up C$0.07 on Monday, hitting C$134.56. The stock had a trading volume of 664,371 shares, compared to its average volume of 1,497,752. The company has a debt-to-equity ratio of 107.59, a quick ratio of 0.58 and a current ratio of 0.64. The stock has a market cap of C$83.99 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 3.38 and a beta of 0.92. Canadian National Railway has a 1 year low of C$126.11 and a 1 year high of C$158.17. The firm’s fifty day simple moving average is C$132.03 and its two-hundred day simple moving average is C$136.30.

Canadian National Railway Company Profile

Canadian National’s railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2019, CN delivered almost 6 million carloads over its 19,600 miles of track. CN generated roughly CAD 14 billion in total revenue by hauling intermodal containers (25% of consolidated revenue), petroleum and chemicals (21%), grain and fertilizers (16%), forest products (12%), metals and mining (11%), automotive shipments (6%), and coal (4%).