Cowen hikes PT for FreightCar America, expects better rail traffic

Freightcar America

10/08/2022 11:34

** Cowen raises PT for railcar maker FreightCar America Inc
 RAIL.O , citing co's higher delivery outlook for the year
    ** Co on Monday raised its FY 2022 deliveries outlook to
between 3,000 and 3,200 railcars from prior outlook of 2,600 and
2,900 units  urn:newsml:reuters.com:*:nGNX6s4mnb
    ** Brokerage raises PT to $6 from $4.32, expects co to
continue to achieve improvements to cost structure, sees
improvement in rail traffic 
    ** "We remain on the sidelines for now as we monitor the
sustainability of the company's positive momentum in winning
orders and improving margins." - Brokerage
    ** YTD, RAIL up ~41%

 (Reporting by Nathan Gomes in Bengaluru)
 ((Nathan.Gomes@thomsonreuters.com;))