Topic: How To Invest

The Successful Investor Hotline – Friday, October 18, 2024

Article Excerpt

CANADIAN PACIFIC KANSAS CITY LTD., $110.57, Toronto symbol CP, is your #1 Conservative Buy for 2024. The company 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. This week, U.S. transportation regulators approved CPKC’s plan with U.S. railway CSX Corp. (Nasdaq symbol CSX) to acquire rail lines from Genesee & Wyoming. The deal gives the company better access to lines in Mississippi and Alabama. That will let it offer faster service for shippers between Mexico, Texas and the U.S. Southeast, and help it compete with trucking firms. The stock is up 16% in the past year as it begins to realize more of the benefits from its April 2023 purchase of U.S. railway Kansas City Southern. The company will probably earn $4.26 a share this year, and the stock trades at…