Piper Jaffray Maintains a 'Buy' Rating on The Andersons (ANDE); Raises Price Target After Meeting With Mgmt
More News related to ANDE
- Morning Movers 11/05: ROYL, RX, FSYS, KAI, SANM Higher; SMSI, CVS, MBRK, INOD, PL, ARO Lower
- After-Hours Movers 11/04: RSOL, SANM, PARL, VLNC, GIVN, CECO Higher; SMSI, AUTH, WFMI, ANDE Lower
- Andersons (ANDE) Posts Q3 EPS of $0.07, Misses Views
- The Andersons, Inc. Reports Third Quarter Results
- Trading Radar for 11/04: Cisco (CSCO), Comcast (CMCSA), Tyco (TEL), Molson Coors (TAP) Report
Piper Jaffray & Co. maintains a 'Buy' rating on The Andersons (Nasdaq: ANDE). Price target increased from $29 to $36.
Piper analyst says, "After spending the past 2 days with ANDE management, we are incrementally more confident in our Buy rating on ANDE shares...Concerns around rail segment weakness are overblown. Rail car shipments have fallen significantly this year due to the weak economy (the latest data from the American Association of Railroads indicates that North American rail volume is down 20.2% so far this year). This weakness has caused utilization rates in ANDE's rail fleet to decline. We now expect the Rail segment to lose about $1.2m in 2009. While these developments are clearly a negative for the Andersons, we believe that widely-circulated concerns around the Rail segment are overblown. Strong trends in fertilizer and grain segments support growth. We believe that fundamental drivers in ANDE's fertilizer and grain segments are aligning to support growth that will more than offset weakness in the Rail segment."
To see more analyst ratings on ANDE Click Here.
The Andersons, Inc. is an entrepreneurial company with diversified interests in the agriculture and transportation markets.
Related Categories
Analyst CommentsStocks Mentioned
+0.69Related 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!
