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Canadian National Railway Company (NYSE:CNI) is included among the 13 Best Canadian Dividend Stocks to Buy and Hold for the Long Term.
On November 3, CIBC analyst Kevin Chiang raised the price target for Canadian National Railway Company (NYSE:CNI) to C$146 from C$140 while maintaining a Neutral rating on the stock, according to a report by The Fly.
Canadian National Railway Company (NYSE:CNI) delivered strong third-quarter results despite a challenging macroeconomic environment. Adjusted earnings per share rose 6% in the September quarter, and the company improved its operating ratio by 170 basis points to 61.4%.
CEO Tracy Robinson noted that while the railroad had fallen short of volume expectations over the past two years, the company has consistently maintained top-tier margins and strong operational performance.
Management announced plans to cut capital spending from C$3.35 billion in 2025 to C$2.8 billion in 2026, bringing spending to the mid-teens as a percentage of sales, in line with US peers. The reduction reflects the completion of major capacity expansion projects in Western Canada and upgrades to the locomotive fleet, rather than a slowdown in growth investments. Canadian National Railway Company (NYSE:CNI) also aims to trim management labor costs by C$75 million and accelerate share repurchases, taking advantage of attractive valuations.
Canadian National Railway Company (NYSE:CNI) is a North American transportation and logistics company that operates the largest rail network in Canada and serves destinations across the United States and Mexico.
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READ NEXT: 12 Best European Dividend Stocks to Buy Now and 15 Stocks with Highest Dividend to Invest In.
Disclosure: None.
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