Credit Suisse Raises Price Target on Genesee & Wyoming (GWR) Following Announced P&W (PWX) Acquisition
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial 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
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
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!