STOCKCHASE

Best run railroad company in North America. Doesn't expect any pressure from Canadian Pacific (CP-T) which will be focusing on internal operating metrics. Expects CN to continue improving their operating ratio, which is currently under 64%. Always increases its dividend. Trading at a discount to CP.

2012-02-08

BUY

77.300

Colin Stewart

Good business. Shareholders switching from CN to CP. CN trades at a bit of a discount valuation. Good operating history. Will benefit from recovering commodities in Canada.

2012-02-07

DON'T BUY

76.280

Barry Schwartz

Valuation has gotten quite high. Likes the railroads and would recommend that you look at some of the US competitors such as CSX (CSX-N) or Norfolk Southern (NSC-N) other than this or Canadian Pacific (CP-T).

2012-01-16

TOP PICK

79.300

Would rather stick with low cost producer, which is CN even if CEO goes to CP.

2012-01-12

TOP PICK

79.670

Keith Richards

(Top Pick Nov 9/11, Up 2.89%) Stuck with these guys for many, many years. Mid 2000’s. If there was ever a buy and hold stock in his work this was it. Has some volatility. Holds it as a core.

2012-01-03

PAST TOP PICK

80.150

(A Top Pick Aug 3/11. Up 20.9%.) Earnings have been good and they keep returning cash to shareholders.

2011-12-30

Comment

78.800

Jeff Parent B. Eng. FCSI

Point and figure charting. Which exchange is the better one to do charting from? CN Rail on the TSX is bullish but bearish on the NYSE. Difference is because of the currency.

2011-12-02

Comment

78.750

Mohsin Bashir

Premier operator in its space. Excellent dividend. Trading at a pretty high multiple. In the transportation area, consider TransForce (TFI-T), which is a strong operator with great barriers to entry.

2011-11-21

PAST TOP PICK

80.020

(A Top Pick Oct 29/10. Up 22.83%.) Still likes. Q3 showed an increase in volumes.

2011-11-18

TOP PICK

79.060

Keith Richards

Broke through its old highs of $77, consolidated over the summer, and has now broken out into all new highs. No overhead resistance.

2011-11-09

BUY

80.710

Paul Harris, CFA

Rail business is a great story. Have brought down their costs and have done a lot of mergers. Much more environmentally friendly than trucking. If you are thinking about this for the long term, this is a nice place to be.

2011-11-07

BUY

79.020

Don Lato

Recently switched to Canadian Pacific (CP-T) because of valuation but both valuations are probably in line right now. If you are going to buy one now, it would probably be Canadian Pacific. Both rails are well priced and wouldn't hesitate to buy either.

2011-11-02

DON'T BUY

74.080

Jeff Black

Has always had great operating performance. Highly cyclical in terms of its economic sensitivity. Not a great dividend yield, but a reasonably good dividend grower. Not a fan of the rails given his economic views.

2011-10-14

TOP PICK

70.490

One of the great Canadian investments that every Canadian should own. Likes their ability to grow their dividend. Exceptional railway operators.

2011-10-05

WAIT

68.380

Michael Decter

Best railway in North America. When you can get it down at these levels, it is worth considering. Be little patient as it will trade on the overall economy. If there is continued perception of weakness, you might get a little lower.

2011-10-03

BUY

70.980

If you are going to play any rail stocks, this is the one you would play. Most efficient operator. Has the lowest operation ratio, lowest ratio of costs to revenues. Continues to execute extremely well.

2011-09-29

TOP PICK

71.010

Well managed. Yield of about 1.8% but increased this by 13%-15% over the last 5 years. Also buying back stock. North American oriented.

2011-08-29

BUY

69.860

Not as much of a value stock now as it has not sold off like a lot of stocks. Still buying for new clients. The best railroad to own in North America.

2011-08-26

BUY

68.220

North America's best and most efficient railway company. There is some talk that if pipelines run into difficulty, this company could transport oil bitumen to the Gulf in 10 to 12 days compared to 50-60 days for a pipeline.

2011-08-18

BUY

70.130

Barry Schwartz

Likes the railroad business and the stock has come off. Generating a lot of free cash flow.

2011-08-11

BUY

68.720

John O'Connell, CFA

Good chance of dividend rising again. They are efficient. If you want exposure to transportation, this is the correct one of the two railways.

2011-08-09

Comment

66.210

Rick Stuchberry

Rails have held up very well in this pullback. The only negative is that the yield is about 2% where you can get a bank at 4% and an insurance company at 5%. Very well run company.

2011-08-08

TOP PICK

70.750

Dividend theme. Great grower of dividend. Accumulate on dips. Great management team. 60% dividends growth in 3-5 years.

2011-08-03

HOLD

70.750

Michael Smedley

State of market is punishing stock right now. Nothing particularly wrong with it. All you can do is hold it long term.

2011-08-03

Comment

71.640

This and Canadian Pacific (CP-T) have both done well but CP’s numbers were not as good. They are both economy stocks and if the economy is perking along, they will do reasonably well. CP is more into commodities while CNR is more diversified. They are doing better as transport shipping has become more expensive. Prefers this one a little better.

2011-07-29

BUY

71.330

Veronika Hirsch

This is one of those companies you should hold in your portfolio for a long time. Expects it to continue to outperform Canadian Pacific (CP-T).

2011-07-27

BUY

72.050

If you are 3-5 years you couldn’t go wrong buying it. Thought their numbers were quite good, given the environment that they have had to work in. Volumes are up and pricing is firmer in a lot of areas. This is a good place to enter, don’t sell.

2011-07-26

HOLD

75.240

John Zechner

Canadian National (CNR-T) or Canadian Pacific (CP-T)? With an expected bump on the stock tomorrow, should the caller sell his CNR and switch? He has considered the same thing but CN is still delivering the better earnings. He would continue to hold.

2011-07-25

BUY

73.530

He assumes our economy has hit its soft spot and during the 3rd and 4th quarters and into next year will improve. This speaks well for all rails.

2011-07-20

BUY on WEAKNESS

75.070

Likes it. His favourite railway. It is an out and out buy on weakness. It is in hold territory and will go up and down with the market over the next little while. Buy at $73

2011-07-12

BUY on WEAKNESS

74.160

Has held in pretty well relative to the correction. Would prefer it closer to $70. Best operator and lowest operating ratio. Will continue to try to take shares from trucking by improving service levels. Recently increased dividends and are buying back stock.

2011-06-20

Comment

74.160

Canadian National (CNR-T) or Canadian Pacific (CP-T)? He prefers CP. CNR deservedly sells for a premium but he sometimes thinks the premium is of little out of line. CP has never been as efficient but has been making strides in improving their operating efficiency. Both of them are a play on economic recovery. Has seen CP forecasts having them earned $4-$5 a year over the next couple of years.

2011-06-20

HOLD

74.640

They do the best job of managing costs and revenues. You have to believe in the US economy.

2011-06-07

Comment

74.670

Canadian National (CNR-T) or Canadian Pacific (CP-T)? He owns both, but substantially more CN than CP. Prefers CN because it is a North American Railway going east/west and north/south where CP primarily just goes east/west. Operating ratio on CN is substantially better.

2011-05-25

HOLD

75.050

Believes it is the most profitable run railway in North America. Big north/south exposure in the US.

2011-05-20

BUY

73.920

Owns and prefers CNR-T to CP-T. CNR-T has a better cost and is north south, not east west. CNR raised dividend when CP profit warned because of severe winter weather. CP is not cheap enough to switch to at this time.

2011-05-10

Comment

73.600

Brooke Thackray

Has been doing fantastic. Raised their dividend 20% in January. Forecasting 15% earnings growth. Free cash flow of $1.2 billion. Trading in a range. Seasonally he got out of the transportation sector because it tends to suffer some weakness this time of year. If it breaks down through the lower part of the range, you should get out.

2011-05-05

PAST TOP PICK

73.400

(A Top Pick Feb 1/10. Up 18.13%.) Still likes and is still a Buy.

2011-04-04

TOP PICK

72.600

Weather in the first quarter is always a question mark so they tend to under perform in the first quarter. Throwing off a huge amount of free cash flow. Increased dividend 20% this year and bought back shares. They give back to shareholders and don’t go out making acquisitions. Has a huge system in the states.

2011-03-21

HOLD

72.380

He is concerned, but not overly so. Would be a sell if oil went to $120. Monitor it closely. They are the most efficient. Had lagged the whole group. Was a buyer 6 weeks ago.

2011-03-10

HOLD

71.740

Laura Wallace

Long time favourite. Just hit a 52-week high. Great way to play the growth in emerging economies because it ships to the ports that ship. May be a little bit pricey here.

2011-03-03

HOLD

70.490

A little wary of railroads but if gasoline prices go up, it is great for railways. Concerned about their major US exposure. Probably a good long term Hold.

2011-02-25

PAST TOP PICK

69.230

(A Top Pick Feb 26/10. Up 27.18%.) Recommended on the recovering economy and improving business. Rails have had good control on costs.

2011-02-14

PAST TOP PICK

69.310

(A Top Pick Dec 16/09. Up 23.51%.) Still likes.

2011-02-10

PAST TOP PICK

68.100

(A Top Pick Feb 1/10. Up 26.6%.) Still a Buy.

2011-02-07

PAST TOP PICK

67.380

Laura Wallace

(A Top Pick Dec 31/09. Up 20.33%.) Another way to participate in the emerging market growth.

2011-01-20

WAIT

66.300

North south, Canada/US. Prefers Union Pacific – he is looking at it. Used to own CN and is waiting for an entry point.

2011-01-06

BUY

67.260

David Baskin

Bullish on the railways. Another way to play commodities. Prefers Canadian Pacific (CP-T) to this one but not sure there is a huge difference between them. CP made a very nice deal into the powder basin in Wyoming giving it an opportunity to ship an enormous amount of coal.

2010-12-22

PAST TOP PICK

68.140

(A Top Pick Feb 1/10. Up 27.01%.) Still likes.

2010-12-17

TOP PICK

65.520

David Driscoll

Growth with their container plant and growth in shipping volumes. Good balance sheet. Fairly cheap. Free cash flow continues to grow at a 10% range and expects Feb dividend to get a 10% bump.

2010-11-29

DON'T BUY

64.890

Rail traffic is exceedingly economic sensitive and he things the economy is quite fragile in the US. CNR in the US is the best-run railroad.

2010-11-09

BUY

64.240

Brian Acker, CA

$77.15 model price and would buy it here. Dependent on economy continuing to grow. Sell in the good times. Buy again at $44.70. Model price is $91.45 a year out. Downside is $54.70 if economy suffers a shock.

2010-11-08

TOP PICK

66.060

Economically sensitive. Most efficient railway in North America. Big play on commodities and inter modal. 1.7% yield.

2010-10-29

HOLD

68.480

Nick Majendie

Best operating ratios compared to its peers. Excellent management. Good growth story and has the ability to increase dividends consistently. Volumes seem to be holding very well and look good on a year-over-year basis.

2010-10-26

PAST TOP PICK

65.960

(A Top Pick May 7/09. Up 36%.) Leveraged play to the economy. Pays a good dividend. Recently came out with impressive earnings. Shorter term it is fully priced but a good long-term Hold.

2010-08-09

BUY

63.700

It is an economy stock. Is not a bad buy on a longer-term basis. Probably better than CP right now.

2010-07-22

PAST TOP PICK

62.980

(A Top Pick May 12/09. Up 36.49%.)

2010-07-20

BUY on WEAKNESS

62.000

Ara Nalbandian

Canadian National Railway (CNR-T) and Canadian Pacific (CP-T). Both are coming in with strong numbers on volume/yield. More lower fruit with CNR on operational improvements/cost cuts. Bought a line in the Chicago area, which will help them bypass congestion. For a long-term hold, he would prefer CNR but would wait for a pullback on either. Below $60 would be a good entry point.

2010-06-23

BUY on WEAKNESS

62.350

Has had a nice move up. Rail traffic has been very strong in Canada, and with this company in particular. Very efficient operator but they still feel they can do more cost cutting. Can still take share from the trucking industry going forward. Would like to see it below $60.

2010-06-22

PAST TOP PICK

62.350

(Top Pick May 7/09, Up 27% excluding dividends)

2010-06-22

PAST TOP PICK

61.160

(Top Pick Oct 1/09, Up 20%) Well-managed company, backbone of economy. Prefers to CP because of their network – they are more North American. They are quite efficient and economically sensitive. Increased dividend every year.

2010-06-02

PAST TOP PICK

59.600

(A Top Pick May 7/09. Up 22%.) A healthy railway reflects a healthy economy. Will benefit with the continuation of the growth of the North American economy.

2010-05-21

BUY

60.580

Ron Meisels

Is at a new all time high. If a stock is above the 200-day moving average, which is rising, then go for it.

2010-05-18

PAST TOP PICK

60.730

(A Top Pick May 25/09. Up 35.6%.) Sold this one part way through the year but would buy back in the mid-$50's.

2010-05-17

BUY on WEAKNESS

62.990

Barry Schwartz

Shippers have had a great move. Trading at multiples that are huge expectations on earnings next year.

2010-04-20

PAST TOP PICK

62.990

(Top Pick Oct 01/09, Up 20%) Volumes have come back but he still likes it. CN has east/west and north/south so he prefers it to CP. They are the leader on how to run a yard. Dwell hours are 12 vs. 24 for competitors.

2010-04-20

PAST TOP PICK

62.570

(A Top Pick May 7/09. Up 26.3% not including dividends.) Getting expensive now and would wait for a pullback before buying.

2010-04-19

HOLD

61.720

Brian Acker, CA

Model price is $69.10, 12% upside.

2010-04-01

BUY on WEAKNESS

62.130

(Market Call Minute.) Has had a nice move.

2010-03-30

WAIT

58.850

David Baskin

It’s a question of how long you are investing. Bullish on railways but it may not be this year. Prefers CP. Could tread water for 3-6 months.

2010-03-16

TOP PICK

55.300

Best run railroad in North America. Rail traffic and volumes are a great barometer of economic and industrial activity. Bought a railroad near Chicago that allows them to bypass the city core. Opportunity to decrease transit times. Long-term they will get growth due to economic growth. Dividend increased recently and they started share buy-backs.

2010-02-26

BUY

54.840

(Market Call Minute) Limited downside of 5% / 15% upside.

2010-02-17

BUY

54.000

N.A. economy continues to grow. This has been a great company. Year after year of raising dividend. Core holding in portfolios. CP is only in private portfolios.

2010-02-12

TOP PICK

54.290

Just raised dividend and re-instituted their share buy back even after they've had the worst possible slowdown in rail traffic in the last 35 years.

2010-02-01

PAST TOP PICK

53.320

(A Top Pick Jan 22/09. Up 33.1%.) Valuation is getting a little bit full but longer-term the quality of management and assets it's a good place to be. Buy on weakness.

2010-01-29

Comment

55.930

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.

2010-01-27

BUY

54.970

On his Buy list. As the US economy recovers, they will be in a prime position to benefit. Has been weak lately giving a buying opportunity

2010-01-18

Comment

55.340

Jeff Black

Economically sensitive. Have all directions covered very well. Volumes are going to increase over time as the recovery takes hold. Good place to be longer-term. 1.8% dividend yield.

2010-01-14

PAST TOP PICK

58.530

(A Top Pick Oct 1/09. Up 13.5%.) Good balance sheet and good management. Low-cost operator.

2010-01-08

TOP PICK

57.340

Laura Wallace

Best run railway in North America. Will benefit with a pickup in global economic activity, particularly in the developing world. Trading at a very reasonable multiple. Decent dividend with a good record of increasing dividends.

2009-12-31

BUY on WEAKNESS

57.090

(Market Call Minute.) Would like it to be a little bit cheaper. A definite buy in the low $50's.

2009-12-30

HOLD

56.660

(Market Call Minute) Some appreciation in railways lately.

2009-12-22

TOP PICK

56.940

(A Top Pick Jan 23/09. Up 36.8%.) Like the exposure to the improvement of the economy. Starting to see carload improvements, which can give them some great earnings going forward. Continues to like the fundamentals for the rail industry. Top-notch management.

2009-12-16

BUY on WEAKNESS

58.000

Nick Majendie

Looking for further weakness in order to buy.

2009-12-09

BUY

58.210

Michael Smedley

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.

2009-12-08

HOLD

58.210

(Market Call Minute) Best run railway in N.A and stock got a little ahead of itself.

2009-12-08

BUY on WEAKNESS

55.000

On her watch list. Going to benefit as the economy strengthens. Possible Teamsters strike so there could be some negative fallout. Try to buy in the low $50's.

2009-11-26

PAST TOP PICK

57.660

(A Top Pick Oct 1/09. Up 11.63%) Has been a good dividend grower, about 20%, over the last 5 years. Thinks this will continue in the future. They also buy back a lot of their stock from free cash flow.

2009-11-19

HOLD

57.100

Paul Thornton

(Market Call Minute.) Has just broken out again and railroads have been pretty strong in the last few months.

2009-11-13

WATCH

54.990

Ron Meisels

Stock has been in a congestion area and is on the verge of a possible breakout. If it gets to $55-$56 it will go significantly higher.

2009-11-05

Comment

52.300

Management is talking about increasing dividends or doing a share buyback. Either one of these would be positive for the stock. Railroads are economy stocks and will go the same as the economy and he doesn't think we are totally out of the woods. Extremely well managed railroad.

2009-10-30

TOP PICK

50.750

A tentative cyclical way to get some economic exposure. Great management and really good cost control. As soon as there is a start of some volume and recovery in the economy, it will drop right to the bottom line and you could get $60.

2009-10-28

TOP PICK

51.760

Good free cash flow and have been buying back shares. This is a call on the North American economy where Canadian Pacific (CPR-T) is a call in the global economy. Low cost producer.

2009-10-01

WAIT

51.760

The industry leader. In a general North American recovery, he would prefer this to Canadian Pacific (CP-T). Still a little too early to get in.

2009-10-01

TOP PICK

54.410

Gives exposure to an improving economy. One of the best run companies in North America. Good earnings growth. Starting to seem some improvements in car load volumes.

2009-09-16

TOP PICK

52.790

(A Top Pick Feb 20/09. Up 30.72%.) Transportation, rails in particular, is a reflection of the economy. To the extent that the economy is hitting the bottom and recovering, you should see this in the rails. This is one of the most efficient rail operators on the continent. Resemble balance sheet and good management team.

2009-08-24

Comment

48.880

Veronika Hirsch

(Market Call Minute.) Prefers this to Canadian Pacific (CP-T) any day.

2009-07-17

TOP PICK

48.710