Deutsche Bank Reinstating Genesee & Wyoming With Buy (GWR)

Deutsche Bank is reinstating coverage on Genesee & Wyoming Inc. GWR with a Buy rating and a $59 price target on shares. In a note sent to investors Deutsche Bank writes, "We are reinstating coverage on Genesee & Wyoming with a Buy rating as we see strong growth potential at this local and regional railroad. Genesee & Wyoming continues to benefit from the recent pickup in railroad volumes as well as its exposure to international growth regions (Australia) and natural resource development projects. We see strong top- and bottom-line growth at this well managed company as carload volumes build in North America and Australia. Accordingly, we are reinstating coverage with a Buy rating and $59 price target." Shares of GWR closed at $50.47 yesterday, up 15 cents.