Evercore ISI Lifts Its Price Target on Canadian National Railway Company (CNI) to $103

Canadian National Railway Company (NYSE:CNI), which accounts for 11.94% of Bill Gates’s stock portfolio, is one of his top 15 stock picks.

On November 3, 2025, Evercore ISI lifted its price target on Canadian National Railway Company (NYSE:CNI) from $98 to $103, while keeping an “In Line” rating, The Fly reported.

The raised target stems from the company’s demonstration of resilience amid a challenging freight environment in Q3. The investment firm cited the company’s recent earnings beat as evidence of its effective cost management and productivity gains. Evercore ISI believes that Canadian National Railway Company (NYSE:CNI) is successfully tackling volume headwinds with the help of disciplined operations and efficiency initiatives.

Earlier, on October 31, Canadian National Railway Company (NYSE:CNI) reported Q3 2025 results, marked by 1% YoY growth in revenue ($2.95 billion) and 5% growth in net income ($0.81 billion). Meanwhile, a 170-basis-point improvement in the operating ratio resulted in a 6% increase in diluted EPS to $1.30. The company also noted improvements in operational metrics, such as car velocity and train speed, driving fuel efficiency up by 2%.

Looking ahead, Canadian National Railway Company (NYSE:CNI) reiterated its 2025 guidance for mid-to-high single-digit adjusted EPS growth.

Across Canada and the U.S., Canadian National Railway Company (NYSE:CNI) transports freight including chemicals, petroleum, grain, forest products, and automotive goods.

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