Railways will rebound from brief strike

Article Excerpt

The federal government recently stepped in to end a work stoppage by locomotive engineers, conductors, train and yard workers, and rail traffic controllers at these two railways. The dispute will now go to binding arbitration, which will likely increase their operating costs. Even so, we still like their long-term prospects. CANADIAN PACIFIC KANSAS CITY LTD. $117 is your #1 Conservative Buy for 2024. The company (Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 932.9 million; Market cap: $109.1 billion; Price-to-sales ratio: 7.5; Dividend yield: 0.6%; TSINetwork Rating: Above Average; www.cpkcr.com) ships freight over a 32,190-kilometre rail network. That line runs mainly between Montreal and Vancouver, with links to hubs in the U.S. Midwest and Northeast. It also connects with important hubs and ports on the U.S. Gulf Coast and in Mexico. As a result of last year’s merger with U.S. railway Kansas City Southern, the company’s revenue in the three months ended June 30, 2024, rose 13.5%, to $3.60 billion from…