UPDATE: Jefferies Raises PT on Greenbrier Companies Following Headline F3Q Miss, Lowers F2013 Guidance
In a report published Wednesday, Jefferies analyst Peter Nesvold reiterated a Hold rating on Greenbrier Companies (NYSE: GBX), and raised the price target from $22.00 to $23.00.
In the report, Jefferies noted, “GBX sold off 6% in a flattish tape following a headline F3Q miss and lowered F2013 guidance. Start-up costs at the company's expanded plant in Mexico accounted for most of the miss. While we had anticipated a solidly upside quarter, in hindsight we broke one of our own rules — never make a quarterly call on the railcar OEMs!”
Greenbrier Companies closed on Tuesday at $22.27.
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