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

Key Points

• Desjardins raised Canadian National Railway’s price target from C$185 to C$199 and maintained a “buy” rating, implying 9.29% potential upside from the prior close.
• Analyst sentiment remains favorable, with an overall “Moderate Buy” rating and an average price target of C$183.29; TD also lifted its target to C$205.
• CN reported quarterly earnings of C$2.08 per share on C$4.75 billion in revenue, with a 26.92% net margin and 22.19% return on equity.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its price objective lifted by investment analysts at Desjardins from C$185.00 to C$199.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price target points to a potential upside of 9.29% from the company's previous close.

Several other research firms have also issued reports on CNR. TD raised their price target on shares of Canadian National Railway from C$191.00 to C$205.00 and gave the stock a "buy" rating in a research report on Monday. Sanford C. Bernstein lifted their target price on Canadian National Railway from C$163.00 to C$196.00 in a research report on Thursday, July 16th. Stephens upgraded Canadian National Railway to a "hold" rating in a research note on Wednesday, July 8th. Citizens Jmp raised Canadian National Railway to a "hold" rating in a report on Wednesday, July 15th. Finally, ATB Cormark Capital Markets raised their price objective on Canadian National Railway from C$166.00 to C$185.00 and gave the stock a "sector perform" rating in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Canadian National Railway presently has an average rating of "Moderate Buy" and an average target price of C$183.29.

Canadian National Railway Stock Performance

TSE CNR traded down C$0.82 during trading on Monday, hitting C$182.09. The company's stock had a trading volume of 676,090 shares, compared to its average volume of 1,685,911. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 103.26. The firm has a 50 day moving average price of C$168.47 and a 200 day moving average price of C$153.20. The firm has a market cap of C$110.46 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 3.38 and a beta of 1.18. Canadian National Railway has a 52 week low of C$126.11 and a 52 week high of C$185.25.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI last posted its quarterly earnings data on Friday, July 24th. The company reported C$2.08 earnings per share for the quarter. The company had revenue of C$4.75 billion during the quarter. Canadian National Railway had a return on equity of 22.19% and a net margin of 26.92%. Equities research analysts forecast that Canadian National Railway will post 8.2610275 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian National Railway

In related news, Director Justin M. Howell bought 350 shares of the company's stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of C$152.74 per share, with a total value of C$53,459.00. Following the acquisition, the director owned 350 shares in the company, valued at approximately C$53,459. This represents a ∞ increase in their position. Corporate insiders own 2.64% of the company's stock.

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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