Canadian National Railway (NYSE:CNI) Price Target Raised to $145.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised Canadian National Railway’s price target to $145 from $135 and maintained an “overweight” rating, implying approximately 11.94% upside from the current share price.
• Analyst sentiment is broadly positive, with eight Buy ratings and eight Hold ratings; MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $134.94.
• Canadian National Railway exceeded quarterly expectations, reporting $1.50 in EPS versus $1.39 forecast and $3.35 billion in revenue versus $3.26 billion expected, although EPS declined from $1.87 in the prior-year quarter.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its price target raised by Wells Fargo & Company from $135.00 to $145.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the transportation company's stock. Wells Fargo & Company's price objective points to a potential upside of 11.94% from the stock's current price.

Other equities research analysts have also issued reports about the company. Barclays lifted their price target on Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday. Citizens Jmp assumed coverage on shares of Canadian National Railway in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. Sanford C. Bernstein lifted their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a research note on Tuesday, March 31st. Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an "outperformer" rating in a research report on Thursday, June 25th. Finally, National Bank Financial set a $124.00 price target on shares of Canadian National Railway in a research note on Thursday, June 25th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $134.94.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $129.53 on Monday. Canadian National Railway has a twelve month low of $90.74 and a twelve month high of $131.55. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $120.15 and a two-hundred day moving average of $110.72. The company has a market capitalization of $78.50 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.47 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.33%. The company had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the company posted $1.87 EPS. The business's revenue was up 11.3% compared to the same quarter last year. As a group, analysts expect that Canadian National Railway will post 5.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. High Point Wealth Management LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $27,000. MidFirst Bank bought a new position in Canadian National Railway in the fourth quarter valued at approximately $31,000. Curio Wealth LLC acquired a new stake in Canadian National Railway during the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd grew its holdings in Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company's stock worth $35,000 after acquiring an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new stake in Canadian National Railway during the 1st quarter worth $37,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company NYSE: CNI is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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