Sterne Agee Reiterates Neutral Rating, $16 PT on The Greenbrier Companies
In a report published Wednesday, Sterne Agee Group reiterated its Neutral rating and $16.00 price target on The Greenbrier Companies (NYSE: GBX).
Sterne Agee noted, “GBX shares rose 20% yesterday on Carl Icahn's filing of a 13D reporting a 10% stake in GBX, and his intention to discuss strategic opportunities with management. Icahn is majority owner of GBX's competitor ARII. Note that the highly concentrated railcar OEM market could present a significant roadblock to a potential combination, as the combined company would comprise 37% of YTD industry deliveries.”
The Greenbrier Companies closed on Tuesday at $16.73.
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