Da Davidson Raises Price Target on Greenbrier Companies (GBX), Order Flow Remains Strong In Coming Quarters

DA Davidson is reiterating their Buy rating on shares of Greenbrier Companies (NYSE: GBX) as the company pre-released their 2Q11 earning with an EPS of ($0.01) and a revenue of $280 million, which is roughly inline with the firms and streets estimates. Management is expected to release their official earnings on April 7, 2011. They are raising their price target to $35 form $30.

The firm is raising their price target on the company as they announced orders for 4,200 new units which are valued at $325 million total. 1,800 of those units will be present in 2Q results, but the remaining 2,400 units will be in the 3Q. Since the company already released that they had 1,900 units previously in the 2Q, the total for 2Q should come in at minimum 3,700 units. DA Davidson is raising their 2Q revenue estimate by $40 million to $278 million to go inline with the company's pre-release and as they raised their units to be produced estimate to 2,300 from 1,500.

For more ratings news on Greenbrier Companies click here and for the rating history of Greenbrier Companies click here.

Shares of Greenbrier Companies closed at $27.51 yesterday.

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