As previously reported, Buckingham analyst Matthew Brooklier downgraded Greenbrier to Underperform from Neutral and lowered his price target on the stock to $21 from $34. He believes cycle and structural headwinds could further weigh on the company's earnings as continued declines in Class I rail volume and Precision Scheduled Railroading initiatives have negative impacts on the company's domestic new car orders as well as its aftermarket operations, Brooklier tells investors. He also said that American Railcar Industries, the manufacturing business of which Greenbriar is buying, has greater exposure to Energy.