Send me real-time posts from this site at my email
Zacks

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.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.

Click here for the 4 trades >>
 


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Canadian National Railway Company (CNI): Free Stock Analysis Report
 
FedEx Corporation (FDX): Free Stock Analysis Report
 
Landstar System, Inc. (LSTR): Free Stock Analysis Report
 
Triton International Limited (TRTN): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue