KeyBanc Downgrades Greenbrier Companies (GBX) to Hold; "Easy Money" Gone
More News related to GBX
- Greenbrier Announces Webcast and Conference Call of Quarterly Financial Results
- The Greenbrier Companies (GBX) Reports Mixed Q3 Results
- Trading Radar for 7/7: Int'l Speedway (ISCA), A. Schulman (SHLM), Ruby Tuesday (RT), Greenbrier (GBX) Report
- Greenbrier (GBX) Receives Strategic Investment from WL Ross
- KeyBanc Downgrades Greenbrier Companies (GBX) to Hold; "Easy Money" Gone
More News related to Downgrades
- XOMA (XOMA) Falls Modestly Following After-Hours Downgrade
- Morgan Stanley Upgrades CHU to Overweight, Downgrades CHL, CHA to Equal Weight
- Natixis Bleichroeder Downgrades Tenaris S.A. (TS) to Reduce
- Bank of America Downgrades Seneca Foods (SENEB) from Buy
- RBC Downgrades Intrepid Potash (IPI) to Sector Perform
KeyBanc downgrades Greenbrier Companies (NYSE: GBX) from Buy to Hold.
KeyBanc analyst says, "While we expect that GBX will benefit from several more quarters of working capital and capital structure improvements, we also believe that much of the "easy money" relative to our (previous) upgrade is now behind us, and we are left to consider what is likely to be a long, slow recovery with respect to returning railcar manufacturing volumes. To that point, we note that shares of railcar manufacturers tend to trade with industry backlog. Given our belief that industry backlog will likely trough after GDP, we anticipate extremely weak orders and deliveries for the next several quarters, which could lead to a backlog trough sometime in late 2009 or early 2010. We are maintaining our FY09 and FY10 estimates of $0.18 and $0.77, respectively, and we are downgrading our rating on GBX to HOLD from BUY."
To see more analyst ratings on GBX Click Here.
The Greenbrier Companies, Inc. (Greenbrier) is engaged in designing, manufacturing and marketing of railroad freight car equipment in North America and Europe and a provider of railcar refurbishment and parts, leasing and other services to the railroad and related transportation industries in North America.
Get StreetInsider.com Premium Free For 2-Weeks http://www.streetinsider.com/premium_content.php
Related Categories
DowngradesStocks Mentioned
+0.00Related Entities
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!
