UPDATE: Stifel Nicolaus Initiates Trinity Industries with Buy, $31 PT on; Attractive Entry Point
Stifel Nicolaus initiated its rating on Trinity Industries (NYSE: TRN) with a Buy rating and a price target of $31.
Stifel Nicolaus commented, "We consider the most recent trading price to be an attractive entry point as we believe the shares have overcorrected of late in light of full railcar and barge backlogs, rising lease rates and high lease fleet utilization levels, and our macro economic outlook of modest, but positive, growth."
Trinity Industries closed at $21.75 on Wednesday.
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