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

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its price objective upped by research analysts at Scotiabank from C$160.00 to C$165.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's price objective indicates a potential upside of 14.02% from the stock's current price.

A number of other equities analysts have also commented on CNR. Desjardins cut their price target on shares of Canadian National Railway from C$169.00 to C$160.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Barclays cut their target price on Canadian National Railway from C$150.00 to C$145.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Raymond James cut Canadian National Railway from an "outperform" rating to a "market perform" rating and decreased their price target for the company from C$180.00 to C$150.00 in a research note on Tuesday, April 22nd. ATB Capital cut their price objective on Canadian National Railway from C$159.00 to C$156.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Susquehanna upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$159.79.

Canadian National Railway Price Performance

Shares of TSE CNR traded up C$0.41 during mid-day trading on Friday, hitting C$144.71. 115,601 shares of the stock traded hands, compared to its average volume of 1,344,083. The company has a market cap of C$90.66 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. Canadian National Railway has a twelve month low of C$130.02 and a twelve month high of C$173.59. The company has a debt-to-equity ratio of 107.59, a current ratio of 0.64 and a quick ratio of 0.58. The firm has a 50 day simple moving average of C$140.50 and a two-hundred day simple moving average of C$144.67.

Insider Activity

In related news, Director Shauneen Elizabeth Bruder acquired 645 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were acquired at an average cost of C$141.56 per share, for a total transaction of C$91,308.14. Also, Director Susan C. Jones acquired 1,461 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of C$136.62 per share, for a total transaction of C$199,600.80. Corporate 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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