Canadian National Railway (NYSE:CNI) Sees Large Decline in Short Interest
Canadian National Railway (NYSE:CNI) (TSE:CNR) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 4,620,000 shares, a decrease of 5.5% from the September 15th total of 4,890,000 shares. Based on an average daily trading volume, of 834,600 shares, the short-interest ratio is presently 5.5 days. Currently, 0.6% of the company’s stock are sold short.
Several research analysts have recently weighed in on the company. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $94.00 to $100.00 in a research report on Wednesday, October 16th. Wells Fargo & Co assumed coverage on Canadian National Railway in a research report on Monda ...