Section 1: Company Overview

Canadian National Railway Company (TSX: CNR) is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, the company safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 18,600-mile rail network.

1.1 The Key Positives, Negatives, Investment Highlights, and Risks

Section 2:  Financial Highlights

2.1 Key Financial Highlights

Section 3:  Stock Recommendation Summary

3.1 Valuation Methodology EV to Sales Based

3.2 Price Performance and Stock Recommendation

 3.3 One-Year Technical Price Chart

One-Year Technical Price Chart (as of March 27, 2023). Source: REFINITIV, Analysis: Kalkine Group

3.4 Technical Summary

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, and currency as of March 27, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.