Despite Canada’s sluggish economy, the S&P/TSX 60 Index delivered a surprisingly strong performance in 2024, returning 20.9% when including dividends. But representing a group of 60 of Canada’s largest companies, it’s only natural that not all of them rose to the occasion.
Today, we’re looking at two blue-chip Canadian stocks from this benchmark that fell short of expectations last year – and offering my outlook for them in 2025.
A beaten-down oligopoly
Even with dividends reinvested, Canadian National Railway (TSX:CNR) ended 2024 down 10.5%.
This lacklustre performance was largely attributable to macroeconomic headwinds – specifically, threats from the incoming Trump administration to impose 25% tariffs on Canadian goods.
While CNR’s network is primarily Canadian, these tariffs would create significant ripple effects. Canadian exports account for a sizable portion of rail freight, and punitive trade measures could…
