CANADIAN NATIONAL RA

CNR
Delayed Toronto Stock Exchange - 04:15 2022-12-09 pm EST
170.04 CAD -0.65%

RBC Capital on CN Rail

09/27/2022 | 02:20pm
(MT Newswires) -- RBC Capital asked investors if they saw upside in CN Rail's valuation looking forward. "Our survey results indicate that investors view CN's current valuation as reasonable to cheap, with 44% indicating they believe CN's current valuation is fair at current levels and 37% indicating they see upside to consensus multiples."

Overall, RBC was not surprised by the results due to CN's recent operating success and solid volume outlook. With regards to investment implications, on one hand, with just over a third of investors seeing upside to CN's valuation, RBC highlights the potential for a re-rate higher should recent operating success continue into next year. On the other hand, with 20% of investors viewing the shares as expensive, there is a downside risk should operations and margin not improve in line with consensus expectations.

Price: 149.45, Change: -0.83, Percent Change: -0.55

MT Newswires 2022
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