GATX Corp. (GATX): "There's More Pain to Be Had" - Stifel
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Stifel analyst, Michael Baudendistel, reiterated his Hold rating on shares of GATX Corp. (NYSE: GATX) after spending time with Bob Lyons (CFO) and Chris LaHurd (VP of IR). The management team is known for its candor with investors on industry trends and outlook.
The analyst stated "The railcar leasing market that exists today is not terribly different than what GATX has been describing would happen on analyst calls the past two years. Driven partly by demand, but mainly by supply, there are excesses for nearly all railcar types. After considering the company's always-forthcoming comments this week, we don't see a reason why market fundamentals should snap back in the immediate future, which is the crux of our Hold rating."
Shares of closed at $45.76 yesterday.
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