WallStSmart
CNI

Canadian National Railway Company

NYSE: CNI · INDUSTRIALS · RAILROADS

$112.12
+3.74% today

Updated 2026-04-30

Market cap
$68.02B
P/E ratio
20.13
P/S ratio
3.93x
EPS (TTM)
$5.57
Dividend yield
—
52W range
$90 – $116
Volume
1.7M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Canadian National Railway Company (CNI) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$112.12
Consensus
$115.18
+2.73%
2030 Target
$416.72
+271.67%
DCF
$116.76
+8.94% MoS
13 analysts:
4 Buy6 Hold2 Sell

Management guidance

No specific CEO revenue targets or management guidance with explicit numbers found in provided data. CEO Tracy Robinson will discuss Q1 2026 results and outlook on April 29, 2026, but forward guidance has not yet been disclosed. Historical context: CN transported 300M+ tons annually and set record Q1 grain volumes (2.96M tonnes in March 2026), indicating volume strength.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$698.01
$21.3B Rev × 20x P/S
Base case (2030)
$416.72
$21.3B Rev × 12x P/S
Bear case (2030)
$281.29
$21.3B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$16.8B$17.0B$17.3B$17.8B$18.7B$19.5B$20.4B$21.3B
Revenue growth—1.3%1.4%2.8%5.0%4.5%4.5%4.5%
EPS$7.29$7.10$7.58$7.93$8.78$9.50$10.25$11.05
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$343.79$364.63$385.47$395.88$416.72

Catalysts & risks

Growth catalysts
+ Q1 2026 earnings release (April 29, 2026) with management outlook
+ Record Western Canadian grain shipments and volume momentum through 2026
+ Share repurchase program and 3% dividend increase announced
+ Improved Q4 2025 operating ratio and labor productivity gains
+ RBC price target increase to C$160 citing best-in-class earnings upside among Class I railroads
+ Billionaire insider buying (Ken Fisher, Al Monaco) signaling confidence
+ Strategic capacity readiness positioning for volume growth recovery
Key risks
- Economic slowdown reducing freight volumes and shipment demand
- Regulatory headwinds or labor disputes impacting operations
- Commodity price volatility affecting shipper profitability and willingness to use rail
- Recession scenario would materially reduce carload and revenue growth
- STB regulatory rejections limiting M&A/consolidation optionality
- Recent analyst downgrades (JPMorgan, National Bank Financial) signal caution

Methodology

Canadian National Railway Company's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 13 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.