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Rating: CNI
Sector Outperform

Canadian National Railway Company (NYSE: CNI) rated to Sector Outperform by Scotia Capital

Friday,  May 15, 2015  12:25 PM ET by Betsy O'Brien Harrison

Scotia Capital rated Canadian
National Railway Company (NYSE: CNI) to Sector Outperform.

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).

Scotia Capital has well-respected research capabilities in fixed income research, equity research, economics, and foreign exchange. We offer coverage for Canada, the United States, and Mexico. In the Unites States, we offer in debt research coverage on the US investment grade debt and high yield debt markets. Publications include daily and weekly company reports and industry reports. This research is also available through SC Online, as well as through Bloomberg.



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