UPDATE: Stifel Reiterates On Trinity Industries Following 2-For-1 Stock Split

In a report published Monday, Stifel analyst Michael Baudendistel reiterated a Buy rating on

, but lowered the price target from $90.00 to $45.00. In the report, Stifel noted, “To reflect the 2-for-1 stock split that went into effect during the trading day of June 20, 2014, we are updating our target price from $90 to $45 (or 13.0x our 2015 EPS estimate of $3.45). Our rating on the company's shares remains Buy and our 2014 and 2015 EPS estimates become $3.70 and $3.45, respectively.” Trinity Industries closed on Friday at $42.23.