Canadian National Railway reports record grain transport volumes

Canadian National Railway has reported record volumes in the transport of grain and agricultural products from Western Canada during the third quarter. This surge in agricultural freight is expected to influence the company’s upcoming quarterly financial results, scheduled for release on October 30.

In anticipation of the earnings report, financial institutions have adjusted their price targets. Scotiabank slightly reduced its target to 198 Canadian dollars while maintaining a ‘Sector Outperform’ rating. Conversely, ATB Cormack raised its target to 190 Canadian dollars with a ‘Sector Perform’ rating.

The company has previously raised its annual guidance, forecasting low single-digit growth in freight performance for 2026. Operational efficiency has also been bolstered by strategic agreements, including a network access swap with US competitor Union Pacific and service agreements with Amtrak.