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Janney Montgomery Scott Downgrades Portec Rail Products (PRPX) to Sell; Company Announces a Merger Agreement

February 17, 2010 9:31 AM EST
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Price: $11.79 --0%

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Janney Montgomery Scott downgrades Portec Rail Products (Nasdaq: PRPX) from Buy to Sell citing acquisition offer from L.B. Foster (Nasdaq: FSTR) for $11.71 per share.

Portec Rail Products, Inc. (Portec Rail Products) manufactures, supplies and distributes a range of rail products, including rail joints, rail anchors, rail spikes, railway friction management products and systems, railway wayside data collection and data management systems, and freight car securement systems.

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