JPMorgan analyst Brian Ossenbeck is constructive on Kansas City Southern ahead of Mexico's presidential election on Sunday, which he believes is a contrarian view given the projected winner is a well-known populist candidate often referred to as "Mexico's Donald Trump". The market appears focused on the risk Andres Manuel Lopez Obrador poses to KSU's operations and growth opportunity in Mexico, but has yet to fully appreciate the implications of Congressional elections also slated for July 1, Ossenbeck tells investors in a research note titled "Mexico's General Election Provides an Overlooked Catalyst for a Relief Rally in KSU." The analyst points out that his firm's Mexico Equity Strategy team does not expect Obrado and the Morena party will carry a large enough majority in both houses of Congress needed to roll-back energy reform or threaten freight railroad concessions. He keeps an Overweight rating on Kansas City Southern with a $132 price target.