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Canadian National Railway Company (NYSE:CNI) is included among the 15 Best Passive Income Stocks to Buy Right Now.
On November 11, Bernstein raised its price target on Canadian National Railway Company (NYSE:CNI) to $109.44 from $106.47 while maintaining a Market Perform rating, as reported by The Fly. The firm noted that the company faced top-line pressure in Q3, but operating expenses and adjusted operating ratio performance remained solid. Bernstein added that a major takeaway in recent weeks has been the growing evidence that intermodal volume realignment is starting to take hold.
In the third quarter of 2024, CEO Tracy Robinson acknowledged that the railroad had fallen short of volume forecasts over the last two years. Even so, she emphasized that Canadian National Railway Company (NYSE:CNI) has consistently delivered strong operational results and maintained top-tier margins.
Management announced plans to lower capital spending from $3.35 billion in 2025 to $2.8 billion in 2026, bringing capex to the mid-teens as a percentage of sales, aligning the company more closely with US peers. The reduction reflects the completion of large capacity expansion projects in Western Canada and locomotive upgrades rather than a pullback in growth initiatives.
Canadian National Railway Company (NYSE:CNI) also intends to cut management labor costs by $75 million and speed up share repurchases, citing attractive valuation levels.
Canadian National Railway Company (NYSE:CNI) is a freight transportation company that operates the largest rail network in Canada and provides service across the United States and Mexico.
While we acknowledge the potential of CNI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 15 Extreme Dividend Stocks to Buy According to Hedge Funds and 15 Overlooked Dividend Stocks to Buy Right Now.
Disclosure: None.
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