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UPDATE: Stifel Nicolaus Raises PT to $54 on GATX Corporation on Tank Demand Outlook

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Stifel Nicolaus maintained GATX Corporation (NYSE: GMT) with a Buy rating and raised the price target from $52.00 to $54.00.

Stifel Nicolaus commented, "We expect the company's Lease Price Index to continue rising nicely in 2013. In recent quarters, the company's lease rates have exceeded the rates on expiring leases (with multi-year durations) by strong double digits and that should also be true for the duration of 2013. … We expect the OEMs' tank car backlogs to be higher at the end of 1Q13 than the end of 4Q12. We believe comments provided by the management team of Trinity Industries on its most recent conference call as well as comments from a range of participants at the Upgrading Crude By Rail Summit point toward very strong order activity for tank cars in 1Q13."

GATX Corporation closed at $49.72 on Friday.

Posted-In: Stifel NicolausAnalyst Color Price Target Analyst Ratings

 

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