Zacks Investment Research upgraded shares of GATX Corp. (GMT) from NEUTRAL to OUTPERFORM on May 21, 2012, with a target price of $45.00.
We are upgrading our recommendation on GATX Corp. to Outperform. The company's first quarter adjusted earnings surpassed the Zacks Consensus Estimate and improved year over year, primarily on higher lease rates. We expect higher lease rates to continue to remain a key growth driver for GATX in the current year and beyond. In addition, increased asset utilization through the reduction of idle rail cars and the deployment of new rail cars will be accretive to the company's long-term growth given the growing rail freight market. Further, GATX enjoys a healthy balance sheet and is committed to enhance its shareholders' value through strong dividend payments.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on GATX Corp. (GMT),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment