Canadian National Railway stock: Scotiabank trims target to CAD 198.00
Published on 10/16/2026 at 16:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTarget revision and valuation
- Scotiabank lowered its Canadian National Railway target from CAD 199.00 to CAD 198.00 on October 15, 2026.
- Canadian National Railway had a CAD 104.1 billion market capitalization on October 16, 2026.
- Canadian National Railway stock cost CAD 171.95 at 10:47 a.m. EDT in Toronto on October 16, 2026, up 0.23 percent on the day.
- The stock traded at a trailing P/E ratio of 22.16 on October 16, 2026.
Scotiabank lowered its price target for Canadian National Railway from CAD 199.00 to CAD 198.00 on October 15, 2026, while keeping an Outperform rating, according to Markets Insider. The revised target stood 15.15 percent above the Toronto price of CAD 171.95. Canadian National Railway stock was trading at CAD 171.95 at 10:47 a.m. EDT on October 16, 2026, up 0.23 percent on the day.
CAD 104.1 billion market value
Canadian National Railway carried a market capitalization of CAD 104.1 billion as of October 16, 2026. That valuation puts the railroad among the largest listed freight operators in North America and gives the Scotiabank target revision a clear numerical frame.
The company traded at a trailing P/E ratio of 22.16 and a dividend yield of 2.00 percent on October 16, 2026. The two figures place the stock in a valuation profile where earnings delivery and cash returns matter alongside the revised analyst target.
Stock stays below its yearly high
The Toronto quote ranged from CAD 171.95 to CAD 173.41 during the October 16, 2026 session. At CAD 171.95, Canadian National Railway stood 7.18 percent below its 52-week high of CAD 185.25 and 34.28 percent above its 52-week low of CAD 128.05.
Trading volume was 88,419 shares at 10:47 a.m. EDT, versus an average volume of 1,363,975 shares. The current session figure therefore describes an early market snapshot rather than a completed daily turnover total.
Comparison with peers
Canadian National Railway Company (Toronto Stock Exchange, CAD): plus 0.23 percent, P/E 22.16, market capitalization CAD 104.1 billion
Canadian Pacific Kansas City (Toronto Stock Exchange, CAD): minus 0.32 percent, P/E 26.27, market capitalization CAD 108.1 billion
Union Pacific (NYSE, USD): plus 0.45 percent, P/E 23.48, market capitalization USD 172.3 billion
Target remains the key valuation marker
The Scotiabank target is not a forecast from the company itself. It is a dated external reference that leaves CAD 26.05 between the October 16 price and the revised CAD 198.00 objective. The calculation uses the Toronto quotation and the target in the same currency.
The next market question is whether the stock can move back toward the CAD 185.25 52-week high while maintaining its current earnings multiple. The 22.16 P/E, 2.00 percent dividend yield and CAD 104.1 billion market value provide the main figures for that assessment.
Toronto price and valuation
Canadian National Railway was trading at CAD 171.95 on the Toronto Stock Exchange on October 16, 2026 at 10:47 a.m. EDT, up 0.23 percent on the day versus the prior close of CAD 171.56.
Canadian National Railway stock facts
- Company: Canadian National Railway Company
- ISIN: CA1363751027
- Ticker: CNR
- Primary exchange: Toronto Stock Exchange
- Price Toronto Stock Exchange (as of October 16, 2026, 10:47 a.m. EDT): CAD 171.95
- Change on October 16, 2026: plus 0.23 percent
- Market capitalization: CAD 104.1 billion (as of October 16, 2026)
- 52-week range: CAD 128.05-185.25 (as of October 16, 2026)
- Sector / Industry: Industrials / Railroads
Market context: Market report S&P/TSX Composite.
