NUTRIEN LTD. $81 is a buy. The company (Toronto symbol NTR; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 483.3 million; Market cap: $39.1 billion; Price-to-sales ratio: 1.1; Dividend yield: 3.7%; TSINetwork Rating: Average; www.nutrien.com) is the world’s largest producer of agricultural fertilizers, including potash, nitrogen and phosphate. It also sells seeds, fertilizers and agricultural products to farmers through some 1,900 stores spread across the Western Hemisphere and Australia.

While current U.S. tariffs are not as high as those announced in April 2025, they are still increasing the costs for raw materials and other inputs at these four firms.


All four are now cutting costs and shifting their supply chains to protect their profits and market share. Even so, not all of them are buys right now.

ENBRIDGE INC. $65 is a buy. The pipeline giant (Toronto symbol ENB; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 2.2 billion; Market cap: $143.0 billion; Price-to-sales ratio: 2.2; Dividend yield: 6.0%; TSINetwork Rating: Above Average; www.enbridge.com) continues to add new projects secured by long-term shipping contracts. The company expects to place $5 billion worth of new projects into service in 2025, as well as another $8 billion in 2026.

CAE is down 7% since the start of the year. Still, the company is in a strong position to profit from two long-term trends. First, a large number of airline pilots will retire over the next few years. Second, Canada and other NATO countries have pledged to increase defence spending.


These developments should spur more demand for the company’s pilot training services and flight simulators.

You Can See Our Spinoff Stock Portfolio For January 2026 Here.

Why we like spinoffs so much


We think that spinoffs are the closest thing you can find to a sure thing for two main reasons:



1) The management of a parent company will only hand out shares in a subsidiary to its own investors if it’s all but certain that business, and the parent, will be better off after the spinoff.



2) Spinoffs involve a lot of work and legal fees. The parent will only spin off the unwanted subsidiary if it can’t sell the stock for what it feels it’s worth.

FIREFLY AUTOMATIX INC. has filed paperwork with U.S. regulators for an initial public offering (IPO) of 4.5 million common shares between $4.50 and $6.50 a share. The shares will trade on Nasdaq under the symbol “FFLY.”


Based in Utah, FireFly makes battery-powered robotic lawn mowers, turf harvesters, and related equipment for golf courses, sports facilities and agricultural companies. Equipment sales supply 90% of its revenue. The remaining 10% comes from maintenance services and software subscriptions. The company sells its products in the U.S., Canada, the U.K., Australia, Brazil, South Africa and Mexico.

ENGHOUSE SYSTEMS LTD. $20 is a hold. The software maker (Toronto symbol ENGH; Manufacturing sector; Shares outstanding: 55.1 million; Market cap: $1.1 billion; Dividend yield: 6.0%; Takeover Target Rating: Medium; www.enghouse.com) operates through two business groups: Interactive Management (55% of total revenue) sells software for managing customer interactions; and Asset Management (45% of revenue) offers technological solutions for network operators as well as software solutions for transit and transportation operators.


Enghouse tends to use acquisitions to fuel its growth. For example, it recently paid an undisclosed amount for the telecommunications division of Chile-based Sixbell. The purchase will expand the company’s Latin American business, which is seeing strong demand for its next-generation telecom technology.

In July 2015, Energizer Holdings Inc. (New York symbol ENR) broke itself into two separate firms—personal-care products maker Edgewell and battery-manufacturer Energizer.

Edgewell has struggled since the split—the stock is now down nearly 80%.

However, the company is selling some of its less-important operations to strengthen its balance sheet. A lower debt load, combined with its well-known brands, could make the company an appealing takeover target.

FEDEX CORP. $284 is a buy. The company (New York symbol FDX, Consumer sector; Shares outstanding: 236.0 million; Market cap: $67.0 billion; Dividend yield: 2.1%; Takeover Target Rating: Medium; www.fedex.com) delivers packages and documents in the U.S. and 220 other countries.


The company still plans to spin off its FedEx Freight division as a separate company. This business is a leading provider of less-than-truckload (LTL) services, which combines freight from multiple customers into a single vehicle. The new shares will trade on the New York exchange under the “FDXF” symbol when FedEx completes the transaction in June 2026.

On October 16, 2023, the old NCR Corp. (New York symbol NCR) split itself into two separate firms. Investors received one share of NCR Atleos (which makes ATMs) for every two NCR shares they held. The remaining firm changed its name to NCR Voyix.


The split has produced mixed results for investors—NCR Atleos is up about 80%, while NCR Voyix is down over 60%. Both firms are cutting costs, which should spur their earnings growth. However, we see better opportunities for your new buying.