Analyst Rating Coverage
Scotia Capital (Rank#14), a leading Canadian investment bank, has revised its price target for Canadian National Railway (CNR) to CAD 169 from CAD 167, while maintaining its Sector Perform rating on the stock.
The slight upward revision in the target price from CAD 167 to CAD 169 may indicate Scotia Capital’s positive outlook on CNR’s prospects. Scotia Capital sees potential for CNR’s stock to appreciate in value. Which could be driven by various factors such as favorable industry conditions, strong financial performance, and positive growth prospects for the company.
As a major player in the transportation industry, CNR operates a vast network of railroads that spans across Canada and the United States, providing critical transportation services for a wide range of commodities and goods. The company’s operations are closely tied to economic activity and trade. Making it an important indicator of the overall health of the transportation sector and the broader economy.
Scotia Capital’s decision to raise the price target for CNR while maintaining a Sector Perform rating suggests a positive outlook for the stock, with expectations for it to perform in line with the broader sector.
CNR Forecast & Analysis
According to the forecast from 22 analysts, the average analyst target price for CNR is CAD 163.67 over the next 12 months. This suggests that analysts, on average, expect the stock to experience moderate growth in the coming year.
The average analyst rating for CNR is a”Hold,” indicating a neutral stance on the stock’s prospects. This suggests that analysts may have mixed opinions on CNR’s performance, with some recommending to hold onto the stock without making significant buying or selling decisions.
Stock Target Advisor’s own stock analysis of CNR is “Bullish,” indicating a more positive outlook. This analysis is based on 10 positive signals and 2 negative signals, which may suggest that there are favorable factors supporting CNR’s stock performance, despite some potential risks or challenges. As of the last closing, CNR’s stock price was CAD 159.84, which is slightly below the average analyst target price.
CNR’s stock price has also experienced modest changes over the past week, month, and year, with a slight increase of +0.23% over the past week, a slight decrease of -0.50% over the past month, and a modest gain of +2.21% over the last year. These changes indicate relatively stable performance in the short-term and modest growth in the long-term.
