These Analysts Increase Their Forecasts On Canadian National Railway Following Upbeat Q2 Earnings

Canadian National Railway Co (NYSE:CNI) on Friday posted better-than-expected earnings for the second quarter.

The company reported quarterly earnings of $1.50 per share which beat the analyst consensus estimate of $1.40 per share. The company reported quarterly sales of $3.433 billion which beat the analyst consensus estimate of $3.250 billion.

“I want to thank the CN team for the strong results this quarter, which reflect their discipline, focus, and execution. We delivered on our key commitments, with solid operational and commercial performance, improved productivity, strong cash flow generation, and continued financial discipline. We are raising our full-year guidance, supported by sustained business momentum and our continued ability to deliver results for our customers,” Tracy Robinson, President and Chief Executive Officer, CN said.

Canadian National Railway shares fell 0.4% to trade at $129.05 on Monday.

These analysts made changes to their price targets on Canadian National Railway following earnings announcement.

• Barclays analyst Brandon Oglenski maintained the stock with an Equal-Weight rating and raised the price target from $109 to $130.
• Wells Fargo analyst Christian Wetherbee maintained the stock with an Overweight rating and raised the price target from $135 to $145.
• RBC Capital analyst Walter Spracklin maintained the stock with an Outperform rating and raised the price target from $195 to $205.
• Evercore ISI Group analyst Jonathan Chappell maintained the stock with an Outperform rating and raised the price target from $124 to $139.

Considering buying CNI stock? Here’s what analysts think:

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