Canadian National Railway (CNI) signed a long-term transportation agreement with BHP to service the Jansen Potash Mine in Saskatchewan. This partnership connects one of the world's largest new potash mines to export terminals on Canada's West Coast.
The company is currently reporting record shipment volumes for both grain and propane. These results highlight strong operational performance across CNI's extensive rail network.
On June 5, Susquehanna raised its price target for CNI to $138 from $128 and maintained a Positive rating. The stock currently trades slightly above average analyst price targets. Market participants are evaluating whether the momentum from the BHP deal and record volumes is already reflected in the current valuation.