KeYBanc Raises Price Targets on Trinity Industries (TRN), Greenbrier Companies (GBX), American Railcar (ARII)

Following a recent investor meeting with Trinity Industries Inc. (NYSE: TRN), KeyBanc is now more confident on its positive view of the industry. The firm is raisin its price target on TRN, from $35 to $44 and is also raising its price target on The Greenbrier Companies Inc. (NYSE: GBX) from $28 to $33 and on American Railcar Industries (Nasdaq: ARII) from $27 to $31. KeyBanc also raised its FY11 and FY12 EPS estimates on TRN from $1.55 and $2.59 to $1.70 and $2.92.

The firm reports after reviewing recent order activity, it now expects industry orders to top more than 23,000 cars in Q1:11, which means that backlog could reach 35,000 cars following deliveries of about 11,000 cars. KeyBanc notes that pricing has also risen for both leasing and buying of railcars and that specific car types has exceeded prior peaks.

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