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According to J.P. Morgan, RailAmerica
RA Overweight rating is maintained.
J.P. Morgan said that on Thursday evening, RA released volume data for September, which fell 10.0% y/y and 9.8% sequentially. “We are lowering our 3Q:11 EPS forecast from $0.23 to $0.22 (vs. Bloomberg Consensus of $0.22), to reflect a 5.7% y/y volume decline (vs. our prior forecast of a 4.4% decline).”
RailAmerica closed yesterday at $14.78.
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