2024-05-10 15:29:19 ET
Summary
- Canadian Pacific Kansas City Limited has transformed into a railroad business that can lead to strong shareholder returns.
- CP's management has demonstrated operational excellence and improved performance over the years.
- The combination of CP and Kansas City Southern creates a rail network that connects Canada, the United States, and Mexico, providing growth opportunities.
- CP trades at a high valuation and new investors should wait for more opportunistic times to initiate a position. I rate CP a hold.
Thesis
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Canadian Pacific: Unique Assets And Good Management, But Valuation Is High