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Canadian National (CNI) to Infuse C$460M in British Columbia

Canadian National Railway Company CNI announced an investment plan worth C$460 million (as part of the company’s C$3 billion capital investment plan) for the current year in British Columbia. This outlay across the province of British Columbia is aimed toward enhancing safety and fluidity of the railroad operator’s network by virtue of its focus, primarily on the areas of technology, capacity and infrastructure maintenance.

The investment will cater to the maintenance of bridges, culverts, signal systems and other track infrastructure throughout the province, which will strengthen the rail network. The capital program involves installation of approximately 252,000 new railroad ties, replacement of nearly 101 miles of rail and rebuilding of 38 road crossing surfaces.  

This capital investment to move freight will reduce emissions and help in economic recovery from the pandemic-led crisis.

In sync with its objective to make investments promote safety and fluidity, Canadian National also announced another investment plan worth C$120 million (also as part of the company’s C$3 billion capital investment plan) for 2021 across the province of Saskatchewan.

Zacks Rank & Stocks to Consider

Canadian National currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Transportation sector are Landstar System, Inc. LSTR, Triton International Limited TRTN and FedEx Corporation FDX. All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.

Long-term (three to five years) expected earnings per share growth rate for Landstar, Triton and FedEx is projected at 12%, 10% and 12%, respectively.

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Canadian National Railway Company (CNI): Free Stock Analysis Report
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