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TSE:CNR

Canadian National R.R. (CNR.TO)

159.73
-0.67 (0.42%)
as of Jun 19, 2026, 8:00:00 pm Market Open.
790 watching
0
HOLD
Railways are in good condition. He doesn't see transport will be depressed even with a recession. However, it's now at a high multiple and their yields aren't exciting. He would focus on cashflow more.
DON'T BUY
Not interested in transportations at the moment. Shipping metrics are questionable. Breaking down on the charts. Between January - May is optimal holding period. Technicals are rolling over.
DON'T BUY
He doesn't like them now. Terrific businesses, but are fully valued with minimal upside. Of the two, he prefers CN, but only a little. Buy them when the market slows down. You can pick away at both of them in the coming year--you have time.
HOLD
CN continues to be the most efficient railroad in terms of operating ratio. They are sensitive to the economy. Unless there is a need for cash, he would stick with it and collect the dividends.
BUY

CN vs CP After a lousy 30-40 years, the rails now enjoy sustained demand, high barriers to entry and free cash flow that can pay down debt and raise dividends. He likes this industry. He owns CN.

PAST TOP PICK
(A Top Pick Oct 11/18, Up 10%) Rails offer good cash flow and growth. The only issue they can't do more acquisitions, given regulations.
DON'T BUY

Railway traffic is declining--news today. Overall, there are fears that the economy is slowing. Look at FedEx's stock and guidance. So investors are selling shares in stocks like CNR.

BUY
This is a good holding to get general economic exposure without a lot of risk. They benefit from the lack of oil pipeline constraints -- this accounts for 3-4% of its value. At $126, there was not much more upside to the share price. He expects a high single-digit return if you buy now.
HOLD

He owns CNR-T over CP-T and CSX-Q in the US. CP-T is more grain and resource orientated -- East to West. CNR-T has more exposure to the US markets. He would hold if you own and wait for a pullback to buy more.

BUY ON WEAKNESS
It is at a reasonable valuation at 16 times. They’re modelling 11% earnings per share growth. Great crude by railway as well as ores. He suggests buying it at dips.
BUY ON WEAKNESS
A great long-term company. Buy on a dip. It's one of his biggest positions. It's a cash machine that's well-managed with huge pricing power.
COMMENT

CIBC vs CN Rail for income? He would be getting out of all the Canadian rails at this point. The banks are also getting hurt. Negative interest rate curves are a warning that something ugly is going to happen. The GDP will fall and interest rates will begin to rise. He would therefore buy into CM-T and drop CNR-T.

BUY ON WEAKNESS
He likes it and will try to buy it. It's the best railroad and most efficient in North America. They recent bought a small railroad in the States. CNR is a play on trade flows across North America. Can't go wrong buying this and won't decline as much when markets turn south.
PAST TOP PICK
(A Top Pick Aug 30/18, Up 5%) Still likes it. Industry's consolidated in the last while. Restructured business nicely. Oil business is helping. A lot of good things happening. More environmentally friendly than trucking. A great company to own.
BUY
Bought this in 2015 and will hold long-term. They run east-west, but also north-south so they can move product anywhere in North America. They bought. The dividend has grown 16% yearly and generates free cash flow.
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