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Power Play: Bullish case for international stocks

A Royal Mail Group postal worker on his delivery round in Manchester, U.K.
Paul Thomas | Bloomberg | Getty Images

With the stock market hitting record highs again, there are concerns that it's overvalued.

There are "more opportunities outside the U.S.," Mark Travis, manager of the Morningstar four-star rated Intrepid Capital fund, told CNBC's "Power Lunch" on Thursday.

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One of his key plays now is Royal Mail Group in the UK.

"Their letter volume is dropping, but packing volume is rising thanks to Amazon and the shares are probably significantly discounted," Travis said.

He also likes the company's dividend, which is over five percent in British pounds.

Royal Mail lower during trading on Thursday.