Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player
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.

If you liked this article you might like

Can CSX Catch Up to the Other Rails?

First Leg Down of United Tech; Hurricanes -- Jim Cramer's Top Thoughts

Cramer: Hurricanes Will Break the Decline of the Auto and Housing Industries

Helping Starbucks and Southwest Airlines Predict the Weather Is One Hot Business