CNI
LONGCANADIAN NATL RY CO
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
PositiveCNI delivered strong operational execution in H1 2026 with Q2 EPS beating expectations (+12% FX-adjusted growth), raised full-year guidance to mid-to-high single-digit EPS growth, and secured significant network expansion rights through binding MOUs with Union Pacific. However, analyst sentiment has diverged sharply, with Susquehanna downgrading to Neutral citing thesis exhaustion and USMCA review risks, while Barclays maintains Equal-Weight with downside risk.
Red flags
- •Analyst downgrade by Susquehanna to Neutral in mid-2026 citing limited upside ahead of USMCA review
- •Operating ratio deteriorated 80 bps YoY in Q2 to 62.5%, signaling margin pressure despite efficiency gains
- •Q1 stock declined 2.4% post-earnings despite beating expectations, reflecting investor caution on expense growth
- •Barclays Equal-Weight with $109 price target implies ~10% downside risk
Funds Buying (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| TCI Fund Management | Chris Hohn | 9.8M | +9.8M | $1.0B | 2.2% | — | NEW |
| Point72 | Steve Cohen | 780K | +257K | $80M | 0.1% | +49% | Existing |
| Maverick Capital | Lee Ainslie | 19K | +19K | $2M | <0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where CNI ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #8 of this fund's book
- 5CANADIAN PACIFIC KANSAS CITY$3,660M
- 6ALPHABET INC$2,540M
- 7FERROVIAL SE$1,328M
- 8CANADIAN NATL RY CO$1,013M
- 9MICROSOFT CORP$1,010M
- 10ALPHABET INC$707M
Values are quarter-end position sizes. Shown only for funds where CNI ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.