Canadian National Railway Receives Upgrade to 'Buy' from TD Securities

Canadian National Railway (TSE:CNR) has received a significant upgrade from TD Securities, which has changed its recommendation for the stock from a "hold" rating to a "buy" rating. This decision was shared with investors in a research note published on Monday. Along with the upgrade, TD Securities has adjusted its target price for Canadian National Railway to C$170.00, down from a previous target of C$175.00. This new price target indicates a potential upside of approximately 17.78% based on the current stock price.

In recent weeks, several other analysts have commented on Canadian National Railway, reflecting a mix of positive and cautious perspectives. For instance, ATB Capital increased their price objective for the stock from C$167.00 to C$168.00 in a report issued on October 23. Meanwhile, Evercore ISI also upgraded the stock from a "hold" rating to a "strong-buy" rating on December 19. However, not all analysts are as optimistic; Barclays reduced their target price from C$165.00 to C$162.00, maintaining a "hold" rating.

On the other hand, Veritas gave a boost to their rating, moving from a "hold" to a "strong-buy" on the same date as ATB Capital's adjustment. Additionally, JPMorgan Chase & Co. reiterated an "outperform" rating in a report dated January 7 of this year. Overall, the current sentiment appears mixed, with one analyst suggesting a sell rating, five maintaining a hold position, nine assigning a buy rating, and four advocating for a strong buy. According to MarketBeat, the consensus rating for the stock stands at "Moderate Buy," while the average price target is C$170.73.

Trading Activity and Recent Figures

In the trading session on Monday, Canadian National Railway's stock experienced a slight increase of 0.1%, reaching a price of C$144.34. The trading volume was recorded at 351,162 shares, which is below its average volume of 964,573 shares. The stock has seen a low of C$143.18 and a high of C$181.34 over the past year. Currently, the market capitalization of Canadian National Railway stands at C$90.86 billion, with a price-to-earnings (P/E) ratio of 17.14 and a P/E growth ratio of 3.38. The stock's beta is noted at 0.65, indicating less volatility compared to the market.

Insider Trading Activities

Recently, there have been notable insider trading activities. Director Tracy Robinson purchased 3,300 shares at an average price of C$147.99 per share, amounting to a total investment of C$488,380.20. Director Shauneen Elizabeth Bruder also acquired 608 shares at an average price of C$145.24, totaling C$88,307.74. Over the last quarter, insiders have accumulated a total of 6,694 shares, representing a value of $1,005,958. Insiders currently hold approximately 2.64% of the company's total stock.

About Canadian National Railway

Canadian National Railway Company is actively involved in providing a range of transportation and logistics services across Canada and the United States. The company operates in rail, intermodal, trucking, and marine sectors. Its services include equipment rental, custom brokerage, transloading, real estate ventures, and private car storage. The intermodal services offered by Canadian National Railway also comprise temperature-controlled cargo, strategic port partnerships, and logistics parks.

Railway, Upgrade, Stock