02:32:37 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Canadian National Railway Company
Symbol CNR
Shares Issued 665,322,150
Close 2023-05-08 C$ 161.71
Market Cap C$ 107,589,244,877
Recent Sedar Documents

Globe says CIBC's Chiang boosts CN to "outperformer"

2023-05-08 08:46 ET - In the News

The Globe and Mail reports in its Saturday, May 6, edition that CIBC World Markets analysts Kevin Chiang has elevated Canadian National Railway to "outperformer" from "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Chiang jacked his share target up by $10 to $185. Analysts on average target the shares at $165.07. Mr. Chiang says in a note: "Key takeaways from CN's investor day were: 1) its scheduled operating plan is driving improved network fluidity and asset utilization. 2) CN has a deep revenue pipeline. 3) CN's EPS CAGR [compound annual growth rate target from 2024-2026 of 10 to 15 per cent was better than expected, but this will come with some additional capex spend.Net-net, we believe the improved alignment between operations and marketing will drive strong incremental earnings growth and more consistent service. We have adjusted our estimates to reflect CN's outlook." The Globe reported on April 19 that Desjardins Securities analyst Benoit Poirier had boosted CN to "buy" from "hold." It was then worth $164.28. The Globe reported on April 26 that ATB Capital Markets analyst Chris Murray had reaffirmed CN at "sector perform." Its shares could then be had for $159.24.

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