Credit Suisse Group Lowers Canadian National Railway (CNI) Price Target to $83.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target dropped by equities research analysts at Credit Suisse Group from $85.00 to $83.00 in a report released on Wednesday. The firm presently has a “neutral” rating on the transportation company’s stock. Credit Suisse Group’s target price indicates a potential upside of 4.76% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Cowen reaffirmed an “outperform” rating and issued a $90.00 price objective (up from $88.00) on shares of Canadian National Railway in a research note on Wednesday. Macquarie upgraded shares of Canadian National Railway from a “neutral” rating to an “outperform” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a report on Monday, January 15th. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Finally, Goldman Sachs Group assumed coverage on shares of Canadian National Railway in a report on Monday, November 13th. They issued a “buy” rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.38.

Canadian National Railway (CNI) traded up $0.73 during trading on Wednesday, hitting $79.23. 1,462,058 shares of the company’s stock were exchanged, compared to its average volume of 1,140,000. Canadian National Railway has a 12-month low of $68.27 and a 12-month high of $85.73. The company has a market capitalization of $59,050.00, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.55 and a quick ratio of 0.49.

Canadian National Railway announced that its board has initiated a share repurchase program on Tuesday, October 24th that authorizes the company to buyback 31,000,000 shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hall Laurie J Trustee increased its holdings in Canadian National Railway by 4.1% during the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after buying an additional 50 shares during the last quarter. Suntrust Banks Inc. increased its holdings in Canadian National Railway by 0.6% during the second quarter. Suntrust Banks Inc. now owns 8,385 shares of the transportation company’s stock worth $679,000 after buying an additional 52 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Canadian National Railway by 4.9% during the second quarter. Sterling Capital Management LLC now owns 3,555 shares of the transportation company’s stock worth $288,000 after buying an additional 166 shares during the last quarter. YorkBridge Wealth Partners LLC increased its holdings in Canadian National Railway by 10.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,413 shares of the transportation company’s stock worth $280,000 after buying an additional 314 shares during the last quarter. Finally, Carret Asset Management LLC increased its holdings in Canadian National Railway by 0.5% during the second quarter. Carret Asset Management LLC now owns 78,009 shares of the transportation company’s stock worth $6,323,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 53.42% of the company’s stock.

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About Canadian National Railway

Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.

Analyst Recommendations for Canadian National Railway (NYSE:CNI)

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