The Globe and Mail reports in its Wednesday edition that concern is growing that Canada's two railway stocks are getting overvalued. The Globe's Martin Mittelstaedt writes that both Canadian Pacific Railway and rival Canadian National Railway have had terrific runs of late. Both railways have surged so much they trade at higher multiples of their earnings and book value than similarly sized rivals in the United States. Some analysts believe the Canadian companies are no longer screaming buys. They view the two companies as "holds." In the case of CN, 26 analysts rate the stock a "hold," four rate it as a "buy" and one considers it a "sell." CP shows the same trend: 17 "holds," nine "buys" and five "sells." Desjardins Securities analyst Benoit Poirier rates both companies "hold" and recently told clients that "we believe both stocks are fairly valued." On CP, Mr. Poirier believes investors have already chased the stock so high that much of the hope for profit increases through cost cutting is already reflected in the share price. For CN, he sees limited upside beyond his $102-a-share target price. Compared with American peers, Mr. Poirier says CP and CN appear expensive.