As previously reported, Oppenheimer analyst Ian Zaffino started coverage of Arcosa (ACA) with an Outperform rating and a $40 price target. With a solid aggregates and specialty materials business, significant EBITDA upside at its inland barge manufacturer, and an experienced and dedicated management team, Arcosa represents an interesting, infrastructure related, investment opportunity, he contends. The analyst notes that the company was recently spun off from Trinity (TRN), and boasts an under-levered balance sheet and significant free cash flow to grow and return cash to shareholders.