Market Overview

UPDATE: National Bank Financial Raises PT on Canadian National Railway Ahead of Q3 Earnings

Share:
Related CNI
Avondale Cuts Estimates On Railroads... Again
Earnings Scheduled For January 26, 2016
CN Rail outlines C$2.9B spending plan for 2016 (Seeking Alpha)

National Bank Financial Maintains reiterated its Sector Perform rating on Canadian National Railway (NYSE: CNI) but raised its price target from $88 to $89.

Financial Maintains Canadian noted, "[K]ey economic indicators, some volumes, other industry participants and even CN management itself are suggesting a slowdown in growth for the rails. CN shares are currently trading at 13.8x our 2013 earnings forecast, which is in line with the long-term average forward multiple of 14x. Given the economic uncertainty, we don't believe that CN shares should be trading at a premium valuation to historical levels, hence our Sector Perform rating."

Canadian National Railway closed at $88.84 on Tuesday.

Latest Ratings for CNI

DateFirmActionFromTo
Jan 2016First AnalysisUpgradesOverweight
Jan 2016Raymond JamesDowngradesOutperformMarket Perform
Dec 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for CNI
View the Latest Analyst Ratings

Posted-In: National Bank FinancialAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CNI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters