This report is an updated version of the report published on 9 February 2026 at 12:32 AM PT 

Canadian National Railway Company

Canadian National Railway Company (NYSE: CNI) is a transportation and logistics company. The Company's services include rail, intermodal, trucking, and supply chain services.

Recommendation Rationale – Sell at USD 106.07 

• CNI stated that it is expecting continued macroeconomic uncertainty as well as higher geopolitical risk moving forward in FY 2026. However, it is managing the environment by focusing on disciplined capital allocation, rigorous cost management as well as strengthening of FCF.
• Furthermore, the company noted that there is a heightened demand risk because of the volatile macroeconomic conditions and global trade tensions. It is also exposed to the trade restrictions, trade barriers, or the imposition of tariffs or other changes which could happen in the international trade arrangements.
• ALAB’s share price is trading close to its R1 level recommended on December 17, 2025. Therefore, there can be a possible decline from the specified resistance levels.

CNI’s Daily Price Chart

Fundamental Valuation

Considering the increasing volatility over global equity market, inflationary pressures, geopolitical tensions, etc. the company’s stock might trade at slight discount. For the valuation, peers such as CSX Corp (NASDAQ: CSX), Norfolk Southern Corp (NYSE: NSC), etc. were considered.

Given its current trading levels, and risks associated, it is prudent to book profit at the current levels. 

Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 106.07 per share, up by 2.59% as on 10 February 2026.

Canadian National Railway Company (NYSE: CNI) is part of Kalkine’s Global Big Money Portfolio 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing. 

Note 1: Past performance is neither an indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 10 February 2026. 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. 

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.  

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest. 

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.