UPDATE: Stifel Nicolaus Downgrades Trinity Industries to Hold Post Outperformance
Stifel Nicolaus downgraded Trinity Industries (NYSE: TRN) from Buy to Hold and removed its $40 price target.
Stifel Nicolaus commented, "We are revising our rating primarily due to valuation and the possibility that railcar backlogs could be close to peaking (although, we may be a quarter or two early). Our fair value estimate of $40 (or 10.0x our 2014 EPS estimate of $4.00) no longer provides enough upside to justify a Buy rating."
Trinity Industries closed at $39.56 on Thursday.
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