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UPDATE: D.A. Davidson & Co. Reiterates On L.B. Foster Company On Further Share Upside Potential

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In a report published Friday, D.A. Davidson & Co. analyst Brent Thielman reiterated a Buy rating on L.B. Foster Company (NASDAQ: FSTR), and raised the price target from $55.00 to $60.00.

In the report, D.A. Davidson & Co. noted, “Fundamentals within the rail sector remain very strong. Car loadings are up nearly 4% year-to-date (versus prior year-to-date loadings of +2%), shortages of railcars reflect broader-based demand, and capital investments at major railroads are increasing. With strong earnings among rail operators, increased traffic and likelihood equipment and infrastructure are pushed even harder, we see solid opportunities for L.B. Foster to rebuild Rail backlog (as a major contract rolls off) as the company benefits from investment in track maintenance and expansion. Rail Products represents ~60% of L.B. Foster sales.”

L.B. Foster Company closed on Thursday at $51.67.

Latest Ratings for FSTR

DateFirmActionFromTo
Mar 2019Initiates Coverage OnBuy
May 2016DowngradesBuyNeutral
Sep 2015DowngradesOutperformNeutral

View More Analyst Ratings for FSTR
View the Latest Analyst Ratings

Posted-In: Brent Thielman D.A. Davidson & Co.Analyst Color Price Target Analyst Ratings

 

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