Canadian National Railway (NYSE: CNI) Stock Outlook: Price Target Raised Amid Record Performance and Strategic Growth

Analyst firm Susquehanna raised Canadian National Railway (NYSE: CNI)'s price target to $138.00 from $128.00, maintaining a "Positive" grade, signaling a favorable outlook driven by strong operational performance.
CNI achieved a new propane shipment record, with carloads increasing 40% year-over-year, and secured a long-term transportation agreement with BHP (NYSE: BHP) for potash, highlighting significant business expansion and efficiency.
The company continues to set new records in grain transport, moving over 2.96 million metric tonnes in May 2026, supported by substantial freight revenue growth of 7% in 2025 and 10% in Q1 2026.

Canadian National Railway (NYSE: CNI) is a leading transportation and logistics company in North America. Its extensive rail network spans nearly 20,000 miles, connecting Canada and the Midwestern and Southern United States. The company plays a vital role in moving raw materials, finished goods, and other products across the continent.

On June 5, 2026, analyst firm Susquehanna raised its price target for CNI to $138.00 from $128.00, while maintaining a "Positive" grade. This update suggests a favorable outlook for the company's stock, which was trading at $119.96 at the time. The firm's confidence is supported by CNI's strong operational performance.

This positive view is backed by recent achievements. CNI set a new propane shipment record, with carloads increasing 40% year-over-year, as highlighted by Zacks. This growth is driven by strong export demand and operational improvements, such as optimizing train lengths and using assets more effectively, which boost network capacity.

The company is also expanding its business through new partnerships. CNI entered a transportation agreement with BHP (NYSE: BHP) to move potash from the Jansen Potash Mine to global markets, as highlighted by GlobeNewswire. This long-term deal leverages CNI's network to connect one of the world's largest new potash developments to export terminals.

Furthermore, CNI continues to break records in other key sectors. The company transported over 2.96 million metric tonnes of grain from Western Canada in May 2026, a new monthly record. This performance follows a 7% increase in grain and fertilizers freight revenue in 2025 and a 10% year-over-year rise in Q1 2026.