Wells Fargo Initiates Coverage on Trinity Industries (TRN) with an Outperform; Multi-Industry Company With Leading Market Positions
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Price: $41.88 --0%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 12
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 12
Trade TRN Now!
Wells Fargo initiates coverage on Trinity Industries, Inc. (NYSE: TRN) with an Outperform rating. Valuation range is $28-30.
Wells analyst says, "We are at what could be the beginning of a multi-year rail supply market recovery given improving order trends and recent traffic growth on the railroads. We have greater confidence that order rates could pick up over the next six months and believe that ongoing improvement in new railcar builds over the next few months and increasing rail traffic could translate to upside to our current expectations, leading to our Outperform rating on the shares at this time. Longer-term, we view TRN's diversified business strategy favorably and along with a recovery of new railcar orders and deliveries should provide significant and sustained improvement in revenue and earnings for the company over the next several years."
To see all upgrades/downgrades on shares of TRN, visit our Analyst Ratings page.
Shares are finished trading at $24.19, down $0.50 (-2.03%)
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Wells analyst says, "We are at what could be the beginning of a multi-year rail supply market recovery given improving order trends and recent traffic growth on the railroads. We have greater confidence that order rates could pick up over the next six months and believe that ongoing improvement in new railcar builds over the next few months and increasing rail traffic could translate to upside to our current expectations, leading to our Outperform rating on the shares at this time. Longer-term, we view TRN's diversified business strategy favorably and along with a recovery of new railcar orders and deliveries should provide significant and sustained improvement in revenue and earnings for the company over the next several years."
To see all upgrades/downgrades on shares of TRN, visit our Analyst Ratings page.
Shares are finished trading at $24.19, down $0.50 (-2.03%)
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