Acquisition BenefitsCPX's acquisition enhances its scale and relevance with expected increases in EBITDA, free cash flow, enterprise value, and net capacity.
Market PositioningThe acquisition establishes a foothold in the PJM RTO in the U.S. and diversifies cash flows away from the oversupplied Alberta power market.
Valuation & GrowthCPX shares are rated Outperform given the attractive relative valuation, exposure to the long-term trend of rising power demand, and upside optionality to the AI data center opportunity.