Susquehanna analyst Bascome Majors downgraded Trinity Industries to Neutral from Positive with an unchanged price target of $30. The two-week rally in rail equipment shares "was long overdue," but it moves the stocks closer to fair value, Majors tells investors in a research note. As such, the analyst downgraded the industry to Neutral, seeing "only slight upside/downside" in shares into 2023. Majors awaits "better new-money entry points if volatility takes hold into 2023."
Published first on TheFly
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