J.P. Morgan Maintains Neutral on Genesee & Wyoming (GWR)

J.P. Morgan is out with its report today on Genesee & Wyoming GWR, maintaining Neutral.

In a note to clients, J.P. Morgan writes, "While GWR's EPS performance is clearly tied to the North American economy, the FreightLink acquisition provides an attractive driver of growth that is not sensitive to the North American economy. We believe GWR stock is fairly valued at the present time. However, if it is able to announce contracts for new Australia business in 2011, we anticipate there would be further upside for the stock. We continue to rate GWR
Neutral."

J.P. Morgan has a $54 PT on GWR.

GWR closed Monday at $53.19.