Scotiabank Lowers Canadian National Railway (TSE:CNR) Price Target to C$150.00

Key Points

• Scotiabank has lowered its price target for Canadian National Railway from C$153.00 to C$150.00 while maintaining an "outperform" rating, indicating a potential upside of 12.12% from the stock's previous close.
• Other analysts have similarly downgraded their ratings on the stock, with Evercore ISI changing its rating to "hold," while JPMorgan Chase increased their price target from C$154.00 to C$163.00.
• The current average rating for the stock is a "Moderate Buy", with a consensus target price of C$152.71, amidst a mix of strong buy, buy, hold, and sell ratings from various analysts.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its price target cut by investment analysts at Scotiabank from C$153.00 to C$150.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's target price points to a potential upside of 12.12% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI cut Canadian National Railway from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. cut Canadian National Railway from an "outperform" rating to a "neutral" rating and increased their target price for the company from C$154.00 to C$163.00 in a report on Wednesday, July 23rd. Argus raised Canadian National Railway to a "hold" rating in a report on Friday, June 27th. CIBC cut their price objective on Canadian National Railway from C$148.00 to C$140.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. Finally, Barclays dropped their target price on Canadian National Railway from C$145.00 to C$135.00 in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$152.71.

Canadian National Railway Stock Up 1.5%

Canadian National Railway stock traded up C$1.95 during mid-day trading on Friday, hitting C$133.79. The company's stock had a trading volume of 780,476 shares, compared to its average volume of 1,506,000. The firm's 50 day moving average is C$130.32 and its 200 day moving average is C$137.09. The company has a debt-to-equity ratio of 107.59, a current ratio of 0.64 and a quick ratio of 0.58. Canadian National Railway has a 52-week low of C$126.11 and a 52-week high of C$160.88. The company has a market cap of C$83.51 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 3.38 and a beta of 0.93.

Insider Buying and Selling

In related news, Director Susan C. Jones bought 1,520 shares of the company's stock in a transaction on Thursday, July 24th. The shares were purchased at an average cost of C$130.96 per share, for a total transaction of C$199,065.28. Also, Director Shauneen Elizabeth Bruder acquired 7,600 shares of Canadian National Railway stock in a transaction dated Thursday, July 24th. The shares were acquired at an average price of C$131.40 per share, with a total value of C$998,624.04. 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%).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.