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

Group 1 - Canadian National Railway Company (CNI) is a significant investment for Bill Gates, comprising 11.94% of his stock portfolio, and is among his top 15 stock picks [1] - Evercore ISI raised its price target for CNI from $98 to $103 while maintaining an "In Line" rating, reflecting confidence in the company's performance [2] - The increase in price target is attributed to CNI's resilience in a challenging freight environment, demonstrated by a recent earnings beat and effective cost management [3] Group 2 - CNI reported Q3 2025 results showing a 1% year-over-year growth in revenue to $2.95 billion and a 5% increase in net income to $0.81 billion, alongside a 170-basis-point improvement in operating ratio [4] - The company achieved a 6% increase in diluted EPS to $1.30 and noted improvements in operational metrics, including a 2% increase in fuel efficiency [4] - CNI reiterated its 2025 guidance for mid-to-high single-digit adjusted EPS growth, indicating a stable outlook for the company [5]