Canadian National Railway Receives a Buy from Scotiabank

By Ryan Adsit

Canadian National Railway (TSX: CNR), the Services sector company, has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from Scotiabank’s analyst Turan Quettawala, with a C$113 price target.

According to TipRanks.com, Quettawala is a 4-star analyst with an average return of 5.1% and a 70.0% success rate. Quettawala covers the Services sector, focusing on stocks such as Union Pacific Corp, Canadian Railway, and Canadian Pacific.

Currently, the analyst consensus on Canadian National Railway is Strong Buy and the average price target is C$113, representing a 9.8% upside.

In a report issued on November 30, TD Securities also upgraded the stock to Buy with a C$115 price target.

The company has a one-year high of C$108.64 and a one-year low of C$87.82. Currently, Canadian National Railway has an average volume of 1.1M.

Canadian National Railway Co. is engaged in the rail and related transportation business. The company’s services include integrated transportation services: rail, intermodal, trucking, freight forwarding, warehousing, and distribution.

The company’s shares closed on Thursday at C$102.95.