Canadian National Railway

CNI · TORONTO

$123.15−$1.78 (−1.42%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $124.93

CNI analyst rating

BuyConsensus of 11 analysts over the last 12 months. 55% rate it a buy.

Strong buy0
Buy6
Hold5
Underperform0
Sell0

12-month price target · 15 analysts

Average $130.37 (+5.9% upside)

Low: $78.41
Now: $123.15
High: $153.16

Upgrades and downgrades

The latest rating actions, newest first

CNI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 7, 2026	Maintains	Buy	$151.00 → $143.00	66%
Susquehanna	Oct 2, 2026	Maintains	Neutral	$142.00 → $130.00	53%
B of A Securities	Sep 23, 2026	Maintains	Buy	$146.00 → $143.00	55%
Argus Research	Aug 31, 2026	Maintains	Hold	—	40%
Evercore ISI Group	Jul 27, 2026	Maintains	Outperform	$124.00 → $139.00	63%
RBC Capital	Jul 27, 2026	Maintains	Outperform	$195.00 → $205.00	60%
Wells Fargo	Jul 27, 2026	Maintains	Overweight	$135.00 → $145.00	56%
Barclays	Jul 27, 2026	Maintains	Equal-Weight	$109.00 → $130.00	51%
Susquehanna	Jul 14, 2026	Downgrade	Positive → Neutral	$138.00 → $140.00	53%
Citigroup	Jul 9, 2026	Maintains	Buy	$124.00 → $141.00	66%

The case for and against

Updated Jul 21, 2026

Bull case

Canadian National Railway is expected to continue its strong performance in the energy sector with a 5% growth predicted for April 2026, and exceeding guidance and consensus with a 3% volume growth and 5% EPS growth forecast. The company's investments in key terminals, focus on operational efficiency, and strong incentives for safety and environmental performance make it a strong choice for investors. However, risks such as economic volatility, regulatory approval for a proposed acquisition, and external factors could impact the company's performance.

Bear case

Canadian National Railway is facing a challenging outlook due to negative factors such as headwinds from higher fuel prices and incident costs, weaker economic conditions, and potential impact from tariffs. Additionally, while the company has strong diversity and sustainability initiatives, there are still risks and uncertainties surrounding its expansion into Mexico through its acquisition of Kansas City Southern. With limited catalysts for near-term growth and a fairly balanced risk/reward, a negative outlook is warranted for Canadian National Railway's stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.