UPDATE: Jefferies Raises PT on Greenbrier Companies Following Headline F3Q Miss, Lowers F2013 Guidance

In a report published Wednesday, Jefferies analyst Peter Nesvold reiterated a Hold rating on

, and raised the price target from $22.00 to $23.00. In the report, Jefferies noted, “GBX sold off 6% in a flattish tape following a headline F3Q miss and lowered F2013 guidance. Start-up costs at the company's expanded plant in Mexico accounted for most of the miss. While we had anticipated a solidly upside quarter, in hindsight we broke one of our own rules — never make a quarterly call on the railcar OEMs!” Greenbrier Companies closed on Tuesday at $22.27.