TD Issues Positive Forecast for Canadian National Railway (TSE:CNR) Stock Price

Key Points

• TD raised its price target on Canadian National Railway to C$191 from C$171, implying about 8.2% upside from the previous close.
• Several other analysts also turned more bullish, including JPMorgan, Raymond James, RBC, and Desjardins, leaving the stock with a Moderate Buy consensus and an average target of C$164.62.
• The stock recently traded near its 12-month high at C$176.50, while the company reported C$1.80 EPS in its latest quarter and posted strong margins and return on equity.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its target price boosted by equities researchers at TD from C$171.00 to C$191.00 in a note issued to investors on Friday,BayStreet.CA reports. TD's price objective would indicate a potential upside of 8.22% from the company's previous close.

CNR has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price objective on Canadian National Railway from C$156.00 to C$175.00 in a research report on Friday. Raymond James Financial increased their price target on Canadian National Railway from C$162.00 to C$170.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. National Bank Financial raised their price target on Canadian National Railway from C$164.00 to C$173.00 and gave the stock a "sector perform" rating in a report on Friday, June 26th. Royal Bank Of Canada boosted their price target on Canadian National Railway from C$178.00 to C$195.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 24th. Finally, Desjardins upped their price objective on shares of Canadian National Railway from C$163.00 to C$185.00 and gave the company a "buy" rating in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and a consensus price target of C$164.62.

Canadian National Railway Stock Up 0.2%

Shares of TSE CNR traded up C$0.40 during trading hours on Friday, hitting C$176.50. 273,002 shares of the stock were exchanged, compared to its average volume of 1,725,188. Canadian National Railway has a 12 month low of C$126.11 and a 12 month high of C$177.36. The firm has a fifty day moving average price of C$162.56 and a 200-day moving average price of C$149.85. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 104.96. The company has a market cap of C$107.06 billion, a PE ratio of 23.25, a PEG ratio of 3.38 and a beta of 1.18.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI last announced its earnings results on Wednesday, April 29th. The company reported C$1.80 earnings per share for the quarter. Canadian National Railway had a net margin of 27.23% and a return on equity of 21.93%. The company had revenue of C$4.38 billion during the quarter. On average, sell-side analysts expect that Canadian National Railway will post 8.2610275 EPS for the current year.

Insider Activity

In other news, Director Justin M. Howell bought 350 shares of Canadian National Railway stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of C$152.74 per share, for a total transaction of C$53,459.00. Following the purchase, the director directly owned 350 shares of the company's stock, valued at approximately C$53,459. The trade was a ∞ increase in their position. 2.64% of the stock is currently owned by insiders.

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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