Q: Is CP and/or TFII a sell right now with the pending tariff discussions? What do you think about these holdings in the current environment?
5i Research Answer:
We would consider both OK. Both companies do already have US business operations, and with onshoring and protectionist policies business south of the border could increase. Certainly tariffs could restrict cross-border shipping, but as we saw on Monday tariff planning is going to be a moving target. CP shares are up this year and investors seem to be adjusting for some uncertainty. TFII may be more vulnerable but we would not consider it a sell.