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Canadian National Railway Company (CNI) [hlAlert]

Rating:
Neutral CNI

Canadian National Railway Company (CNI) rated Neutral with price target $40 by Credit Suisse

Posted on: Friday,  Jan 23, 2009  8:25 AM ET by Credit Suisse

Canadian Natl Rail (CNI)
rated Neutral with price target $40 by Credit Suisse.

Canadian National Railway Company (CN) is engaged in the rail and related transportation business. CN?s network of approximately 21,000 route miles of track spans Canada and mid-America, connecting three coasts: the Atlantic, the Pacific and the Gulf of Mexico. CN?s freight revenues are derived from the movement of a diversified portfolio of goods, including petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive. During the year ended December 31, 2008, 19% of revenues came from United States domestic traffic, 31% from transborder traffic, 24% from Canadian domestic traffic and 26% from overseas traffic. In November 2008, CN announced the acquisition of the three railway subsidiaries of the Quebec Railway Corp. and a QRC rail-freight ferry operation. In January 2009, it completed its acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company (EJ&E).

Excellence in equity and fixed income research is a hallmark of Credit Suisse. Globally, our equity research analysts provide in-depth coverage of over 2,500 companies and engage in a knowledge-sharing, value added culture that has yielded the most insightful product for our customers and tremendous competitive results. Additionally, Credit Suisse's powerful macro-economic and debt strategy teams integrate the bank's comprehensive company research with keen market perspectives of the ever-shifting investment terrain.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
1/23/2009 8:25 AM Hold
None
15.99 20.00
as of 12/24/2008
1 Week   
1 Month   
3 Months   
1 YTD up  27.52 %

(*) Stock Price at the time of the recommendation.
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