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Fly News Breaks for July 3, 2019
GBX
Jul 3, 2019 | 05:21 EDT
Stifel analyst Michael Baudendistel lowered his price target for Greenbrier Companies to $36 from $44 following yesterday's fiscal Q3 results. Execution issues in the repair business continued, weakness in international demand and revisions to unit delivery expectations caused the guidance reduction that many had expected, Baudendistel tells investors in a post-earnings research note. The analyst reduced his estimates to reflect a "slowing macro backdrop," but he keeps a Buy rating on Greenbrier saying the worst of the execution issues are behind the company.