Canadian National Railway: ATB Capital Raises Valuation on Positive Q3 Performance

Canadian National Railway (CNR:CA) (CNI)

Price Target Update:

ATB Capital Markets (Analyst Rank#70) has raised the target price for Canadian National Railway Co to C$168 from C$167, reflecting the company’s solid performance in its third-quarter earnings report.

Analyst Forecasts:

According to a consensus of 23 analysts, the average target price for CNR is C$168.24 over the next 12 months. This slight increase indicates optimism about the company’s future performance, aligning closely with ATB Capital Markets’ new target.

Analyst Ratings:

CNR holds an average analyst rating of “Buy,” suggesting a generally positive outlook among market experts. This rating is supported by Stock Target Advisor’s own analysis, which is categorized as “Bullish,” based on 7 positive signals and 2 negative signals. This combination indicates confidence in CNR’s potential for growth despite recent price fluctuations.

Current Stock Price:

As of the last closing, CNR’s stock price was CAD 155.11. This reflects a current trading price below the analyst target price, presenting a potential buying opportunity for investors.

Price Changes:

The stock has experienced notable declines, with a -2.79% change over the past week, -2.37% over the past month  These figures suggest that while analysts remain positive about the company’s long-term prospects, the short-term performance has been challenging.

Outlook

Canadian National Railway Co continues to attract bullish sentiment from analysts despite recent price volatility. The increase in target price and favorable ratings highlight confidence in the company’s ability to navigate market challenges and leverage opportunities for future growth. Investors may find value in the current stock price compared to analyst forecasts.