Credit Suisse Raises Price Target on Genesee & Wyoming (GWR) Following Announced P&W (PWX) Acquisition
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse reiterated an Outperform rating on Genesee & Wyoming (NYSE: GWR), and raised the price target to $73.00 (from $70.00), following the company's announced acquisition of Providence and Worcester Railroad Company (“P&W”) (NASDAQ: PWX) for $126 million, or $25/sh, representing a 53% premium to the closing price on Friday 8/12.
Analyst Allison Landry commented, "FY16 EPS estimate of $3.56 is unchanged, as we assume the P&W acquisition closes at the end of 4Q16. We have raised our FY17 and FY18 forecasts to $3.74 and $4.28, from $3.67 and $4.20, respectively. Our 12-month target price rises to $73 (from $70) primarily on account of higher base year (2017) EBIT and a lower discount rate in our DCF model. Maintain Outperform."
Shares of Genesee & Wyoming closed at $66.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- JPMorgan Cuts Teva Pharma (TEVA) to Neutral Amid Challenging Generic Environment
- UPDATE: SunTrust Robinson Humphrey Downgrades Pennsylvania Real Estate Investment Trust (PEI) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Mergers and Acquisitions
Related EntitiesCredit Suisse, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!