KeyBanc Upgrades FreightCar America (RAIL) to Hold; More Upside Than Downside Now

KeyBanc upgraded FreightCar America (NASDAQ: RAIL) from Underweight to Hold.

KeyBanc analyst said, "Given RAIL's underperformance since our downgrade (RAIL shares have declined ~16% vs. the S&P 500's flat performance) and our expectation that the Company could meet or exceed the consensus 1Q12 estimate of $0.39, we believe there could be more upside than downside from these levels in the near term. That said, we continue to think RAIL serves the most challenged railcar end market (coal), it will be difficult to model in the near term, and consensus estimates are likely too high for 2013. At this time, however, we think the recent decline has resulted in a more balanced risk/reward and that a HOLD rating is now appropriate."

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 $22.20 yesterday.

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