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J.P. Morgan is out with its report today on RailAmerica RA, raising its PT from $16 to $18.
In a note to clients, J.P. Morgan writes, "We are raising our December 2011 price target from $16 to $18, which is based on applying a 7.5x EV/EBITDA multiple to our 2012 continuing EBITDA forecast. In our view, RA's solid 4Q:10 performance shows that the railroad is delivering stronger operational and financial execution."
J.P. Morgan maintains Overweight on RA.
Shares of RA closed Monday at $16.41, up 1.11% from Friday's close.
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