TSE:CP

Canadian Pacific Rail (CP.TO)

122.41
-1.78 (1.43%)
as of Sep 18, 2026, 8:00:01 pm Market Open.
642 watching
0
DON'T BUY
Model price is $58.70, 2.5% upside only. Would prefer Canadian National (CNR-T) instead.
WEAK BUY
Economically sensitive, but have held up very well. CN is his favourite – less commodity sensitive.
TOP PICK
Looks very attractive. Down 10% at start of year. Pretty good earnings considering economy. Highly leveraged to fertilizer and grain prices. Can buy cheaper than Buffet paid for his railway. A defensive way to play a rebounding economy.
BUY
Canadian National (CNR-T) versus Canadian Pacific (CP-T) on a 4 or 5-year hold? A question he wrestles with all the time but currently he would put his cards with Canadian Pacific as he sees at benefiting from a recovery in commodities. CN is a benchmark railroad with the best operating ratio and are diversified throughout North America.
HOLD
Rail stocks are good indicators of economic activity. Rails have moved ahead of expectations. On the high end of its historical price/earnings ratio.
HOLD
Likes the rails. Preference is Canadian National (CNR-T) but this one is fine. Has risen recently on Teck Resources (TCK.B-T) announcement on coal production. Good play on global, and more particularly, North American growth. (See Top Picks.)
COMMENT
(Market Call Minute.) If you like East-West shipping of coal, grain and potash this would be a preference over CNR.
BUY ON WEAKNESS
Likes the long-term outlook very much because there is the potential for them to double earnings from $2.70 to over $5 over a 5-year period. Near-term look for further weakness.
COMMENT
Canadian National (CNR-T) or Canadian Pacific (CP-T)? CP, the smaller railroad, is commodity oriented. On the longer term, CNR is the great railroad of Canada and this is the one he would own.
BUY
It’s a western Canadian play in grains and coal, which Asia needs and wants. He likes it. He is moving back more into CN after owning both.
COMMENT
Doesn't own it because it is more of a commodity carrier than anything and it depends on how the economy works out. When demand from China starts to rebuild he likes the outlook for them. Would like to get it 5%-10% cheaper.
PAST TOP PICK

(Top Short July 29/08. Up 36.1%.) Still concerned about this one and wouldn't own it. He covered his Short.

BUY ON WEAKNESS
Prefers Canadian National (CNR-T) because it is a better run company. Rails have done very well considering they were supposed to be in an economic downturn. With production being down and all the other things it is hard to conceive that they can continue doing well. Would like to see a pullback before buying.
HOLD
This is fine but she prefers Canadian National (CNR-T). Volumes are looking stronger. Have done a better job of cost control.
DON'T BUY
Canadian National (CNR-T) versus Canadian Pacific (CP-T)? Canadian National but don't buy either until the 2nd quarter earnings come out. Expects a very rough quarter.
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