KeyBanc Downgrades Greenbrier Companies (GBX) to Hold; Taking More Defensive Approach

KeyBanc downgraded Greenbrier Companies (NYSE: GBX) from Buy to Hold.

KeyBanc analyst said, "Our downgrade is more related to our view of the cycle than our thoughts about GBX's results in coming quarters...we believe industry production is likely to exceed orders, resulting in backlog declines. We believe that dynamic will be the more likely driver of railcar OEM shares than operational results in the near term in coming quarters. Similarly, we are maintaining our HOLD ratings for American Railcar (Nasdaq: ARII) and FreightCar (Nasdaq: RAIL)."

For an analyst ratings summary and ratings history on Greenbrier Companies click here. For more ratings news on Greenbrier Companies click here.

Shares of Greenbrier Companies closed at $17.58 yesterday.

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