CPKC targets hydrogen

Article Excerpt

CANADIAN PACIFIC KANSAS CITY, $109.63, is a buy. The company (Toronto symbol CP; shares outstanding: 933.3 million; Market cap: $103.4 billion; Rating: Above Average; Dividend yield: 0.7%) 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. CPKC recently formed an alliance with CANADIAN UTILITIES LTD., Toronto symbol CU. The companies have teamed up to build two new facilities, in Calgary and Edmonton, that will process hydrogen for CPKC’s fuel cell-powered locomotives. The new operations will help the railway cut greenhouse gas emissions. CPKC also plans to use their designs as a template for more hydrogen fuelling stations in other parts of Canada. Canadian Utilities will also benefit from a long-term deal to operate these facilities. CPKC remains a buy. buy…