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In a report published Thursday, Bank of America analyst Ken Hoexter reiterated a Buy rating on
The Greenbrier CompaniesGBX, and raised the price target from $63.00 to $65.00.
In the report, Bank of America noted, “We are increasing our price objective to $65 from $63, but lower our target multiple to 10.0x (from 10.5x) our revised 2015 EV/EBITDA estimate of $256 million (from $228 million). We increase our F3Q14, F2014, and F2015 EBITDA estimates 8%, 6%, and 12%, to $56 million, $209 million, and $256 million, from $52 million, $198 million, and $228 million. We increase our F3Q14, F2014, and F2015 EPS estimates 8%, 12%, and 14%, to $0.78, $2.77, and $3.60, from $0.72, $2.47, and $3.15, respectively.
"Our estimate increases are due to rising rail car delivery expectations and the benefits of its margin focus on each of its three segments.”
The Greenbrier Companies closed on Wednesday at $55.20.
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