Greenbrier price target raised to $40 from $34 at BofA

BofA raised the firm’s price target on Greenbrier to $40 from $34 and keeps an Underperform rating on the shares. The firm points out in a research note on Friday that Greenbrier posted Q1 EPS of 96c, above its 65c target and Street’s 73c. The beat was aided by better-than-expected Manufacturing revenues, which were up 5% year-year and $69M above BofA’s target, as it delivered 5,200 new railcar deliveries, exceeding its target of 4,900. The firm views the strong top-line beat as partly driven by delivery timing and lowers its Q2 revenue target 16% to $788M.