Dahlman Rose reiterated its Buy rating on Genesee & Wyoming GWR and raised its price target from $74 to $79.
Dahlman Rose said, "We are revising our earnings estimates and increasing our price target, as the RA acquisition and related financing have unfolded more quickly and favorably than originally anticipated. … We remain constructive on GWR shares, which, despite the 20% run since the acquisition announcement, are up just 5% YTD, compared to 8% for the rail group, which includes the Eastern carriers, which have been hammered by coal issues."
Genesee & Wyoming closed at $66.13 on Monday.
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