UPDATE: Stifel Nicolaus Initiates American Railcar Industries with Hold; Valuation Fair
Stifel Nicolaus initiated its coverage on American Railcar Industries (NASDAQ: ARII) with a Hold rating.
Stifel Nicolaus commented, "Our Hold rating is on the basis of valuation as we believe our fair value estimate does not provide adequate upside, over the coming year, to warrant a Buy rating. However, we believe the shares represent an attractive longer-term holding at current valuation levels and we believe the shares may benefit from equipment production related to the U.S. energy industry and covered hopper replacement."
American Railcar Industries closed at $24.37 on Wednesday.
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