Seaport says Andersons' rail business sale a game changer; upgrades

Andersons

18/08/2021 16:08

** Shares of U.S. grain handler  ANDE.O  up 5.3% at $31.01
    ** Seaport Research Partners upgrades to "buy" from
"neutral" and maintains $45 PT after sale of its rail leasing
business 
    ** ANDE on Tuesday said it sold its rail leasing business to
American Industrial Transport Inc for $550 mln  urn:newsml:reuters.com:*:nL1N2PO1D7
    ** Seaport Research says the deal is a "game-changer" and
will strategically position the co for new growth opportunities
in its core assets
    ** Brokerage adds that the deal will provide additional
equity upside to co over the next several years
    ** Brokerage expects co to seek growth opportunities in
emerging markets in the U.S. agribusiness industry, helping
EBITDA growth over the next several years
    ** Of three brokerages, one rate the stock "buy", two
"hold"; median PT is $33 - Refinitiv data

 (Reporting by Siddarth S)
 ((Siddarth.s@thomsonreuters.com;))