B of A Securities Reiterates Buy Rating on Canadian National Railway

B of A Securities has reiterated its Buy rating on Canadian National Railway Company (NYSE: CNI), setting a price target of $134. This decision was announced on June 23, 2026. Shares of CNI traded at $114.13 on Tuesday.

Other Institutional Activity in Canadian National Railway

Several institutional investors have been active in Canadian National Railway. Royal Bank of Canada increased its holdings by 1,395,155 shares, bringing its total to 27,509,225 shares valued at approximately $2.83 billion, marking a 5.3% increase. Caisse de Depot et Placement du Quebec added 4,889,251 shares, ending with 18,784,173 shares worth about $1.93 billion, a 35.2% increase. FIL LTD grew its holdings by 1,095,474 shares to a total of 16,841,218 shares, valued at around $1.73 billion, reflecting a 7.0% increase. Meanwhile, 1832 Asset Management L.P. slightly reduced its stake by 64,506 shares, maintaining 18,683,240 shares valued at about $1.92 billion. Vanguard Capital Management LLC opened a new position with 15,798,602 shares, valued at approximately $1.63 billion.

Canadian National Railway Company Stock Down 4.5%

On Tuesday, shares of Canadian National Railway Company (NYSE: CNI) traded near $114.13. The company has a market capitalization of approximately $69.2 billion and a P/E ratio of 21.1. Its forward P/E is 18.5, and it has a beta of 1.002. The stock's 52-week range is between $90.74 and $122.48, with a 50-day moving average of $114.16 and a 200-day moving average of $102.79. The current ratio is 0.668 and the quick ratio is 0.403, while the debt-to-equity ratio stands at 105.664.

Recent Earnings

Canadian National Railway reported revenue of $17.28 billion, with a slight decline in revenue growth at -0.5%. The company's net margin is 27.2%, and it has a return on equity of 21.8%. Earnings per share (EPS) stand at $5.42. The next earnings report is expected on July 24, 2026.

Dividend

Canadian National Railway pays an annual dividend of $2.62, yielding 2.31%. The dividend payout ratio is 47.13%.

Insider Buying and Selling at Canadian National Railway Company

There has been insider selling activity at Canadian National Railway. On December 23, 2025, Derek Taylor sold 6,540 shares at an average price of $98.36. Keith Reardon executed planned sales of 7,892 shares at $122.00 on July 25, 2024, and 5,000 shares at $131.00 on February 27, 2024.

Analysts Set New Price Targets

On June 23, 2026, B of A Securities maintained its Buy rating on Canadian National Railway with a $134 price target. CIBC also maintained a Buy rating with a target of $182 on June 9, 2026. Citigroup and RBC Capital maintained Buy ratings with targets of $124 and $178, respectively, on April 30, 2026. Barclays and Evercore ISI Group maintained Hold ratings with targets of $99 and $108, respectively.

About Canadian National Railway

Canadian National Railway Company, based in Montreal, Canada, operates in the rail and transportation industry across Canada and the United States. It provides a range of services including rail, intermodal, and trucking, serving industries such as automotive, coal, and consumer goods. Led by CEO Tracy A. Robinson, the company employs over 23,500 people and was founded in 1919.

Bottom Line

B of A Securities' reiteration of a Buy rating with a $134 target reflects continued confidence in Canadian National Railway's potential. The company's robust market position and diverse service offerings make it a key player in the transportation industry. Investors should note that analyst ratings are one of many factors to consider, and the information is based on past performance as of June 23, 2026.