Canadian National Railway (TSE:CNR) Price Target Cut to C$140.00 by Analysts at CIBC

Key Points

• Analysts at CIBC have lowered the target price for Canadian National Railway from C$148.00 to C$140.00, maintaining a "neutral" rating which suggests a potential upside of 9.38% from the current stock price.
• A number of brokerages have recently revised their target prices and ratings, with Citigroup lowering its target to C$121.00 while JPMorgan Chase raised their price target to C$163.00.
• Insider trading activity has been notable, with two directors purchasing shares amounting to nearly C$1.2 million, indicating confidence in the company's stock performance.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its target price cut by equities researchers at CIBC from C$148.00 to C$140.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "neutral" rating on the stock. CIBC's target price would suggest a potential upside of 9.38% from the stock's current price.

A number of other brokerages also recently weighed in on CNR. Citigroup lowered their target price on shares of Canadian National Railway from C$123.00 to C$121.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. cut shares of Canadian National Railway from an "outperform" rating to a "neutral" rating and boosted their target price for the company from C$154.00 to C$163.00 in a research report on Wednesday, July 23rd. National Bankshares cut shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from C$170.00 to C$150.00 in a research report on Wednesday, July 23rd. National Bank Financial downgraded Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Canadian National Railway has an average rating of "Moderate Buy" and a consensus target price of C$154.71.

Canadian National Railway Stock Up 0.6%

Shares of TSE CNR traded up C$0.81 during midday trading on Tuesday, reaching C$127.99. The company's stock had a trading volume of 530,580 shares, compared to its average volume of 1,499,712. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 107.59. Canadian National Railway has a fifty-two week low of C$126.11 and a fifty-two week high of C$160.88. The stock has a market capitalization of C$79.89 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 3.38 and a beta of 0.93. The stock has a 50 day simple moving average of C$131.39 and a 200-day simple moving average of C$137.59.

Insider Activity at Canadian National Railway

In other Canadian National Railway news, Director Shauneen Elizabeth Bruder bought 7,600 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was bought at an average cost of C$131.40 per share, for a total transaction of C$998,624.04. Also, Director Susan C. Jones bought 1,520 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were purchased at an average price of C$130.96 per share, for a total transaction of C$199,065.28. Insiders have bought 9,747 shares of company stock worth $1,285,138 over the last three months. Insiders own 2.64% of the company's stock.

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%).

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