Desjardins Has Lowered Expectations for Canadian National Railway (TSE:CNR) Stock Price

Key Points

• Desjardins has decreased its target price for Canadian National Railway's stock from C$155.00 to C$151.00, maintaining a "buy" rating, which suggests a potential upside of 12.03% from the current price.
• Other analysts, including Citigroup and Scotiabank, have also lowered their target prices on Canadian National Railway, with the stock currently holding an average rating of "Moderate Buy" and an average target price of C$152.07.
• Insider purchases have been reported, with directors Shauneen Elizabeth Bruder and Susan C. Jones buying shares at prices around C$130.96 to C$131.40, indicating confidence in the company's prospects.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its target price decreased by analysts at Desjardins from C$155.00 to C$151.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' price target suggests a potential upside of 12.03% from the stock's current price.

A number of other research analysts have also issued reports on the company. Citigroup dropped their target price on 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. Scotiabank dropped their target price on shares of Canadian National Railway from C$153.00 to C$150.00 and set an "outperform" rating for the company in a report on Friday. Evercore ISI lowered shares of Canadian National Railway from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Barclays dropped their target price on Canadian National Railway from C$145.00 to C$135.00 in a research note on Wednesday, July 23rd. Finally, ATB Capital cut their target price on Canadian National Railway from C$155.00 to C$150.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$152.07.

Canadian National Railway Stock Up 0.2%

Canadian National Railway stock traded up C$0.30 during mid-day trading on Monday, reaching C$134.79. 447,209 shares of the company's stock were exchanged, compared to its average volume of 1,503,534. Canadian National Railway has a twelve month low of C$126.11 and a twelve month high of C$160.88. The company has a fifty day moving average of C$130.39 and a 200-day moving average of C$137.01. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 107.59. The company has a market cap of C$84.14 billion, a P/E ratio of 18.59, a P/E/G ratio of 3.38 and a beta of 0.92.

Insiders Place Their Bets

In other news, Director Shauneen Elizabeth Bruder bought 7,600 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was acquired at an average price of C$131.40 per share, with a total value of C$998,624.04. Also, Director Susan C. Jones purchased 1,520 shares of the company's stock in a transaction on Thursday, July 24th. The stock was acquired at an average price of C$130.96 per share, for a total transaction of C$199,065.28. Company insiders own 2.64% of the company's stock.

About Canadian National Railway

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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