Jefferies Reiterates a 'Buy' on FreightCar America (RAIL); Rockets on an Inflection Point Quarter
Tweet
Share
E-mailGet Alerts RAIL Hot Sheet
Price: $7.37 +2.08%
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Jefferies reiterates a 'Buy' on FreightCar America (NASDAQ: RAIL) price target raised from $28 to $31.
Analyst, Peter Nesvold, said, "Do you believe in the railcar cycle or not? Calling the cyclical peak in RAIL shares due to the temperature outside strikes us as short sighted. Either you believe in the railcar cycle or you don’t. RAIL is now sitting on $8.50 of net cash, has now turned profitable, generated $28 million (or $2.36/share) of free cash in 2011, has at least a year’s worth of orders in the backlog, and is probably only in the 4th-5th inning of the railcar cycle. While it’s tempting to close out a position on a 19% one-day move, we have repeatedly argued that the railcar OEMs are not about any given quarter — they’re about the cycle." (Jefferies raises FY12 EPS estimate from $1.00 to $1.42)
For an analyst ratings summary and ratings history on FreightCar America click here. For more ratings news on FreightCar America click here.
Shares of FreightCar America closed at $25.33 yesterday.
Analyst, Peter Nesvold, said, "Do you believe in the railcar cycle or not? Calling the cyclical peak in RAIL shares due to the temperature outside strikes us as short sighted. Either you believe in the railcar cycle or you don’t. RAIL is now sitting on $8.50 of net cash, has now turned profitable, generated $28 million (or $2.36/share) of free cash in 2011, has at least a year’s worth of orders in the backlog, and is probably only in the 4th-5th inning of the railcar cycle. While it’s tempting to close out a position on a 19% one-day move, we have repeatedly argued that the railcar OEMs are not about any given quarter — they’re about the cycle." (Jefferies raises FY12 EPS estimate from $1.00 to $1.42)
For an analyst ratings summary and ratings history on FreightCar America click here. For more ratings news on FreightCar America click here.
Shares of FreightCar America closed at $25.33 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & CoSign 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!
