Canadian National Railway (CNI) Stock Forecast & Price Target

Canadian National Railway
Bull Case

Here are some ways that investors could benefit from investing in Canadian National Railway:

• Canadian National Railway recently set a new monthly record for grain movement in August 2026, moving 2.50 million metric tonnes from Western Canada, which surpasses the previous record of 2.34 million metric tonnes set in August 2020 and signals strong network efficiency and demand for the 2026-2027 crop year.
• The company reported second-quarter 2026 earnings of $1.50 per share, beating the analyst consensus estimate of $1.39 by $0.11, while revenue of $3.35 billion also exceeded expectations and grew 11.3% year-over-year, demonstrating robust operational performance.
• With the current stock price at $121.77, the shares trade at a 21.59 price-to-earnings ratio, which is a valuation metric that compares the share price to the company's earnings per share, suggesting the market is pricing in steady growth relative to its profitability.
• Canadian National Railway offers a dividend yield of 2.12%, providing a regular income stream for investors, with a recent quarterly dividend of $0.915 per share scheduled to be paid on September 29, 2026, to shareholders of record on September 8, 2026.
• The stock has a beta of 0.94, a measure of volatility relative to the overall market, indicating that Canadian National Railway tends to move slightly less than the broader market, which can provide a defensive characteristic for portfolios during periods of market uncertainty.