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

Key Points

• National Bank Financial raised Canadian National Railway’s price target to C$194 from C$190 while maintaining a “sector perform” rating, implying 9.37% upside from the prior close.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus, an average target of C$184.74, and targets ranging as high as C$205 from TD.
• CNR shares recently traded at C$177.38, near their 52-week high of C$185.25. The company reported C$2.16 in quarterly EPS and C$4.77 billion in revenue, while analysts expect full-year EPS of C$8.26.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its price objective upped by analysts at National Bank Financial from C$190.00 to C$194.00 in a note issued to investors on Monday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. National Bank Financial's target price would indicate a potential upside of 9.37% from the company's previous close.

Several other research firms also recently weighed in on CNR. Citizens Jmp upgraded Canadian National Railway to a "hold" rating in a research note on Wednesday, July 15th. ATB Cormark Capital Markets boosted their price objective on Canadian National Railway from C$166.00 to C$185.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th. TD upped their price objective on shares of Canadian National Railway from C$191.00 to C$205.00 and gave the company a "buy" rating in a report on Monday, July 27th. JPMorgan Chase & Co. increased their target price on shares of Canadian National Railway from C$175.00 to C$182.00 in a research report on Monday, July 27th. Finally, Scotia lifted their target price on shares of Canadian National Railway from C$194.00 to C$199.00 and gave the stock a "sector outperform" rating in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$184.74.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up C$4.57 during trading on Monday, hitting C$177.38. The stock had a trading volume of 377,371 shares, compared to its average volume of 1,567,564. The stock's 50 day moving average is C$170.69 and its two-hundred day moving average is C$160.29. Canadian National Railway has a 1 year low of C$128.05 and a 1 year high of C$185.25. The stock has a market cap of C$107.16 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 3.38 and a beta of 1.16. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 105.88.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI last released its earnings results on Friday, October 30th. The company reported C$2.16 earnings per share (EPS) for the quarter. The business had revenue of C$4.77 billion during the quarter. Canadian National Railway had a return on equity of 22.34% and a net margin of 26.42%. As a group, analysts predict that Canadian National Railway will post 8.26 EPS for the current year.

About Canadian National Railway

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

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