UPDATE: J.P. Morgan Upgrades Genesee & Wyoming To Overweight

According to J.P. Morgan, Genesee & Wyoming GWR is upgraded to Overweight and the price target is lowered to $58. J.P. Morgan said that it is upgrading GWR from Neutral to Overweight and our assessment indicates reward to risk of nearly 3 to 1 even with cautious EPS and valuation assumptions. “The primary drivers of EPS growth for GWR are new business on its Australian railroad, acquisitions in North America, and cost improvement projects. While GWR clearly has some sensitivity to performance of the North American industrial economy, we believe its EPS growth is likely to be more resilient in a soft economy than most other transports we cover.” Genesee & Wyoming closed yesterday at $45.50.