Canadian Pacific ( CP) Company profile: Canadian Pacific provides freight transportation over a 15,000-mile railway network serving Canada, as well as the U.S. Midwest and Northeast. It transports bulk commodities, including grain, coal, and fertilizers, as well as cars and auto parts. Investor takeaway: S&P analysts recently downgraded it to "hold" from "buy" on a valuation basis. But railroads are one of Warren Buffett's favorite industries. If you want to indirectly play North American shale oil fields, try this stock or Berkshire Hathaway's ( BRK.B). It bought railroad Burlington Northern Santa Fe last year for $27 billion and it is geared to take advantage of the oil-fields boom, which has recently been boosted by the Obama administration's decision to reject TransCanada's ( TRP) plan to build the Keystone XL oil pipeline, making rail the default transport.