---
title: "Weekly Recap | Canadian Natl Rail -1.66%, consensus target above spot"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/301465629.md"
description: "Canadian National Railway (CNI) lost 1.66% on the week to $117.78, underperforming the S&P 500 by around 2.81 percentage points. The shares opened Monday at $119.60 and hit a weekly high of $120.118, then slipped through midweek, touching $115 on Thursday before bouncing to close Friday at $117.78. The weekly range was 4.28%. Volume was quiet: daily average turnover came in about 23.5% below the median."
datetime: "2026-10-10T06:18:37.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/301465629.md)
  - [en](https://longbridge.com/en/news/301465629.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/301465629.md)
generator: "portal-rs"
---

# Weekly Recap | Canadian Natl Rail -1.66%, consensus target above spot

## The Week

Canadian National Railway (CNI) lost 1.66% on the week to $117.78, underperforming the S&P 500 by around 2.81 percentage points. The shares opened Monday at $119.60 and hit a weekly high of $120.118, then slipped through midweek, touching $115 on Thursday before bouncing to close Friday at $117.78. The weekly range was 4.28%. Volume was quiet: daily average turnover came in about 23.5% below the median.

## Key Events

The stand-out company item was record third-quarter Western Canada grain movement of 7.94 million metric tonnes. After that data landed, Wells Fargo initiated coverage with a buy rating on Tuesday, while Bernstein maintained a hold the day before. CN also said it will release third-quarter 2026 results and host a conference call in late October. On Friday, a commentary piece raised broader questions about the latest data, without flagging a specific operational miss. The week’s story is largely a pre-earnings one: grain volumes and the coming results.

## Analyst Ratings

Of the 30 institutions covering CNI, 10 rate it buy, 5 rate it outperform, 14 rate it hold, and 1 rates it sell. The consensus rating is buy, with a consensus target of $134.87, roughly 14.5% above the spot price of $117.78. Individual targets range from $110.53 to $150.10, showing wide disagreement. Within the freight and passenger rail industry group of six names, CNI ranks first by analyst rating.

## The Week Ahead

On the macro side, US data ahead includes NFIB small business optimism, existing home sales, CPI and core CPI readings. The CPI print has a prior of 3.4 and a forecast of 3.7, while core CPI has a prior of 2.4 and a forecast of 2.5. Company-wise, CNI reports fiscal third-quarter 2026 results before market open on 30 October, with consensus estimates around $1.44 EPS and $3.247 billion in revenue. The questions raised this week by the latest data will likely get an airing on that call.

## In Short

This week’s signals pull in different directions. The analyst picture is favourable, with a buy consensus and a target above spot; yet the shares slid and the latest trading day showed large-lot money flat while smaller flows dominated. Valuation sits near 20.7x P/E and 4.6x P/B, with a 2.24% dividend yield. The test is the 30 October report and whether it can justify the wide target range.

*This article is generated by LongbridgeAI from market data, for information only and not investment advice.*

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- [CNI.US](https://longbridge.com/en/quote/CNI.US.md)

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- [CN sets quarterly Western Canada grain movement record at 7.94 MMT in Q3](https://longbridge.com/en/news/301046112.md)
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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**