JPMorgan Chase upgraded shares of Canadian National Railway (NYSE: CNI) from an underweight rating to a neutral rating in a research report released on Friday morning, TheFlyOnTheWall.com reports. JPMorgan Chase currently has $110.00 price objective on the stock, up from their previous price objective of $96.00.
“Due to its greater reach North into the oil sands and South to US Gulf Coast refineries, CNI has one of the strongest crude by rail growth stories over the next several years. While export coal is soft at the present time, we believe that CNI also has opportunity for growth in the medium term as the coal mines it serves in BC and in Illinois are low cost versus some of their primary competitors. CNI’s intermodal growth story is sensitive to competition from other rails, but we see clear catalysts for growth in the medium term. CNI also has favorable cyclical leverage to lumber & construction products.,” JPMorgan Chase’s analyst commented.
Shares of Canadian National Railway (NYSE: CNI) opened at 103.00 on Friday. Canadian National Railway has a one year low of $79.09 and a one year high of $104.43. The stock’s 50-day moving average is currently $99.33. The company has a market cap of $43.682 billion and a P/E ratio of 17.77.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, June 5th.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital reiterated a hold rating on shares of Canadian National Railway in a research note to investors on Thursday, May 30th. They now have a $106.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Canadian National Railway from $98.00 to $105.00 in a research note to investors on Thursday, May 30th. They now have a neutral rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Canadian National Railway from $103.00 to $108.00 in a research note to investors on Tuesday, May 28th. They now have a market perform rating on the stock.
One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $101.29.
Canadian National Railway Company (NYSE: CNI) is engaged in the rail and related transportation business.