TD Cowen lowered the firm’s price target on Trinity Industries to $32 from $34 and keeps an Outperform rating on the shares. The analyst says the border issues impacting Trinity’s deliveries are likely to keep investor concerns about the company’s execution from subsiding. The firm reduced Q3 and fiscal 2023 earnings estimates but raised 2024 numbers as deliveries get pushed out. The shares should come under some pressure in the near-term, the analyst tells investors in a research note.
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