Market Overview

UPDATE: Bank of America Merrill Lynch Moves to No Rating on Greenbrier Companies

Share:
Related GBX
Earnings Scheduled For October 27, 2017
5 Value Stocks With Impressive EV/EBITDA Ratios To Own Now
Transports Weekly Snapshot: Performance Remains Lower Vs. Broader Indices (Seeking Alpha)

In a report published Wednesday, Bank of America Merrill Lynch moved its rating on Greenbrier Companies (NYSE: GBX) to No Rating.

BofA Merrill Lynch noted, “We are moving to No Rating on The Greenbrier Companies (GBX) following American Railcar and Carl Icahn's bid of $20 per share for GBX. This marks a 5% premium to last night's close ($18.97), but a 43% premium to its November 12, 2012 close, the day before Carl Icahn disclosed his 9.99% stake in GBX. As a result of the pending transaction, the company's investment thesis is, in our view, no longer driven on pure fundamentals. Investors should no longer rely on our previous opinions or price objectives.”

Greenbrier Companies closed on Tuesday at $20.37.

Latest Ratings for GBX

DateFirmActionFromTo
Oct 2017BuckinghamMaintainsNeutral
Jul 2017Stifel NicolausUpgradesHoldBuy
Apr 2017Bank of AmericaUpgradesNeutralBuy

View More Analyst Ratings for GBX
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Termination Analyst Ratings

 

Related Articles (GBX)

View Comments and Join the Discussion!

Partner Center