CN and Amtrak have signed an eight-year agreement to enhance passenger and freight rail services on CN’s network.
Quiver AI Summary
CN and Amtrak have announced a new eight-year operating agreement that enhances their partnership to support safe and reliable passenger and freight services on CN's U.S. rail network. This agreement, which resolves a lengthy dispute with the Surface Transportation Board regarding Amtrak services, establishes a modern framework for collaboration, including a refined performance payment system that aligns with federal on-time performance standards, regular schedule reviews, and mechanisms for addressing operational issues. Additionally, CN and Amtrak will collaborate on equipping trains with Onboard Shunt Enhancers, a technology that improves train detection at grade crossings, enhancing safety and efficiency. Both organizations express gratitude for the support from the Federal Railroad Administration and the Surface Transportation Board in reaching this resolution and are committed to improving rail service and safety in the communities they serve.
Potential Positives
- The signing of an eight-year operating agreement with Amtrak strengthens the partnership between CN and Amtrak, ensuring consistent service on CN’s U.S. rail network.
- The agreement resolves a decade-long proceeding, providing clarity and efficiency in operations for both CN and Amtrak.
- The implementation of Onboard Shunt Enhancers (OSEs) enhances safety at rail grade crossings, promoting safer interactions between passenger and freight services.
- The collaboration with Amtrak includes improved on-time performance metrics, benefiting both passenger experience and freight efficiency across shared corridors.
Potential Negatives
- The press release highlights the resolution of a decade-long dispute, indicating that the previous operating agreement may have had significant issues that needed to be addressed, which could reflect poorly on CN's operational management.
- The new performance payment system suggests prior challenges related to on-time performance, raising concerns about overall reliability and service quality on CN's rail network.
- The reliance on government grants and external support encourages scrutiny regarding CN's financial independence and ability to fund technological advancements without federal assistance.
FAQ
What is the new agreement between CN and Amtrak?
The new eight-year operating agreement governs Amtrak service on CN owned rail lines, enhancing safety and reliability.
How does the agreement improve train safety?
It includes the deployment of Onboard Shunt Enhancers (OSEs) to improve train detection at grade crossings.
What changes were made to the performance payment system?
The revised payment system aligns more closely with the Federal Railroad Administration’s on-time performance standard.
How long has the operating agreement dispute been ongoing?
The dispute had persisted for over a decade before reaching this new agreement.
What technology will be installed on Amtrak trains?
Amtrak will equip its trains with Onboard Shunt Enhancers (OSEs) to enhance safety and reliability on CN's network.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CNI Hedge Fund Activity
We have seen 386 institutional investors add shares of $CNI stock to their portfolio, and 372 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LAZARD ASSET MANAGEMENT LLC removed 4,992,105 shares (-56.1%) from their portfolio in Q2 2026, for an estimated $595,258,600
- ROYAL BANK OF CANADA added 3,646,856 shares (+13.3%) to their portfolio in Q2 2026, for an estimated $434,851,109
- CIBC ASSET MANAGEMENT INC added 3,193,207 shares (+87.0%) to their portfolio in Q2 2026, for an estimated $380,758,002
- WELLINGTON MANAGEMENT GROUP LLP removed 2,985,994 shares (-25.9%) from their portfolio in Q2 2026, for an estimated $356,049,924
- JPMORGAN CHASE & CO added 2,621,159 shares (+inf%) to their portfolio in Q2 2026, for an estimated $312,546,999
- HARDING LOEVNER LP added 2,549,371 shares (+89.7%) to their portfolio in Q2 2026, for an estimated $303,986,998
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/ removed 2,333,392 shares (-62.2%) from their portfolio in Q2 2026, for an estimated $278,233,662
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$CNI Price Targets
Multiple analysts have issued price targets for $CNI recently. We have seen 8 analysts offer price targets for $CNI in the last 6 months, with a median target of $134.5.
Here are some recent targets:
- Ariel Rosa from Citigroup set a target price of $141.0 on 07/09/2026
- Christian Wetherbee from Wells Fargo set a target price of $135.0 on 07/08/2026
- Jonathan Chappell from Evercore ISI Group set a target price of $124.0 on 06/25/2026
- Kevin Chiang from CIBC set a target price of $185.0 on 06/25/2026
- Brandon Oglenski from Barclays set a target price of $109.0 on 06/25/2026
- Ken Hoexter from B of A Securities set a target price of $134.0 on 06/23/2026
- Walter Spracklin from RBC Capital set a target price of $178.0 on 04/30/2026
Full Release
WASHINGTON and HOMEWOOD, Ill., Sept. 16, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) U.S. rail subsidiaries (Illinois Central Railroad Company and Grand Trunk Western Railroad Company, together “CN”) and the National Railroad Passenger Corporation (Amtrak) today announced that they have reached agreements that strengthen their partnership and support safe, reliable passenger and freight service on CN’s U.S. rail network.
The parties have signed a new eight-year operating agreement governing Amtrak service on CN owned rail lines. The agreement resolves a more than decade-long proceeding before the Surface Transportation Board (STB) concerning the terms and conditions for Amtrak services such as the City of New Orleans, Illini/Saluki, and Wolverine .
The operating agreement establishes an updated framework for CN and Amtrak to work together, including a revised performance payment system more closely aligned with the Federal Railroad Administration’s (FRA) on-time performance standard, regular reviews of Amtrak’s schedules, and processes to address operational issues and resolve disputes.
In addition, the parties will work together on a process for Amtrak to equip its trains operating on CN’s network with Onboard Shunt Enhancers (OSEs), a technology that improves how trains are detected as they approach rail grade crossings. OSEs help ensure crossing warning systems, including gates, flashing lights and bells, activate when they should. OSEs both improve safety and provide greater operating flexibility, supporting improved on-time performance for passenger rail service while helping freight and passenger traffic move efficiently across corridors Amtrak shares with CN.
“CN is pleased to have reached agreements that allow us to move forward with a clear framework for safely and efficiently sharing our network. Together with the deployment of OSE technology, these agreements will support safer grade crossings and reliable passenger and freight service.”
– Patrick Whitehead, Executive Vice-President and Chief Operating Officer, CN
“These agreements give Amtrak and CN a strong foundation to move forward together and deliver efficient, reliable passenger rail service. Together, we are improving performance for our passengers while investing in technology that enhances safety in the communities we serve. With steady encouragement from the STB and grant approval from FRA, we are able to bring this train into the station.”
– Byl Herrmann, Interim President, Amtrak
Installation of OSEs is supported through FRA funding and builds on more than a decade of research and testing led by CN, Amtrak and the FRA.
The parties expressed gratitude to the FRA for its leadership and investment in OSE technology and to the STB for its guidance and encouragement, which was instrumental in helping the parties amicably resolve their long-running operating agreement dispute.
About CN
CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.
About Amtrak
Amtrak is seizing a once-in-a-lifetime opportunity to transform rail and
Retrain Travel
. By modernizing, enhancing, and expanding trains, stations, and infrastructure, Amtrak is meeting the rising demand for train travel. Amtrak offers unforgettable experiences to more than 500 destinations across 46 states and parts of Canada. Learn more at
Amtrak.com
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Amtrak app
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