Canadian National Railway Backs Rejection of Union Pacific-Norfolk Southern Merger Application
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 17 2026
0mins
Source: NASDAQ.COM
- Merger Application Rejected: Canadian National Railway supports the Surface Transportation Board's rejection of the Union Pacific-Norfolk Southern merger application, citing a lack of necessary information that fails to meet basic requirements, highlighting the importance of transparency and completeness in mergers.
- Importance of Information Transparency: CN emphasizes that the merger application lacks critical data needed to assess its impact on public interest, indicating that a complete record is essential for evaluating mergers under the new rules.
- Missing Competitive Analysis: CN points out that Union Pacific and Norfolk Southern failed to provide necessary information to evaluate potential competitive harms, underscoring the critical role of comprehensive information in merger reviews.
- Commitment to Future Applications: CN expresses its commitment to actively participate in future merger applications and encourages customers to submit notices of intent to participate, ensuring they remain informed and engaged in the Surface Transportation Board's review process.
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Analyst Views on CNI
Wall Street analysts forecast CNI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CNI is 113.56 USD with a low forecast of 105.00 USD and a high forecast of 136.77 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
9 Buy
6 Hold
0 Sell
Moderate Buy
Current: 98.540
Low
105.00
Averages
113.56
High
136.77
Current: 98.540
Low
105.00
Averages
113.56
High
136.77
About CNI
Canadian National Railway Company is a transportation and logistics company. The Company's services include rail, intermodal, trucking, and supply chain services. The Company’s rail services offer equipment, customs brokerage services, transloading and distribution, private car storage and others. Its intermodal container services help shippers expand their door-to-door market reach with about 23 strategically placed intermodal terminals. Its intermodal services include temperature-controlled cargo, port partnerships, logistics park, custom brokerage, transloading and distribution, and others. Its trucking services include door-to-door service, import and export dray, interline services, and specialized services. Its supply chain services offer comprehensive services across a range of industries and product types. The Company transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Canadian National Railway to Announce Q4 Earnings on January 30
- Earnings Announcement: Canadian National Railway is set to release its Q4 earnings on January 30 before market open, with consensus EPS estimate at $1.46, reflecting a 19.8% year-over-year decline, and revenue expected at $3.28 billion, down 24.8% year-over-year.
- Historical Performance: Over the past year, CNI has surpassed EPS estimates 75% of the time and has beaten revenue estimates 100% of the time, indicating a strong track record in meeting market expectations.
- Estimate Revisions: In the last three months, EPS estimates have undergone 12 upward revisions and 9 downward adjustments, while revenue estimates have seen 11 upward and 8 downward revisions, highlighting mixed market sentiment regarding the company's future performance.
- Market Focus: Despite facing temporary headwinds, Canadian National Railway continues to attract investor interest, particularly regarding its objections to the Norfolk Southern-Union Pacific merger, showcasing its active role in industry dynamics.

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CN to Release Q4 and Full-Year 2025 Financial Results
- Earnings Release Schedule: CN will issue its fourth-quarter and full-year 2025 financial and operating results on January 30, 2026, at 7:30 a.m. ET, which is expected to impact investor confidence.
- Executive Conference Call: President and CEO Tracy Robinson will lead a conference call at 8:30 a.m. the same day to review the financial results and railway outlook, aiming to enhance transparency and investor communication.
- Participation Details: Interested parties can join the call by dialing 1-800-715-9871 (Canada/U.S.) or 1-647-932-3411 (International) using passcode 4883669, ensuring smooth participation.
- Webcast and Replay: CN will webcast the presentation live on its website and provide supporting slides, with a replay available post-call, further enhancing information accessibility and investor engagement.

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