Credit Suisse analyst Allison Landry downgraded Genesee & Wyoming two notches to Underperform from Outperform and cut her price target for shares to $71 from $90. In a research note to investors, Landry says her rationale is based on potentially meaningful short- to mid-term operating disruptions related to the Class I rollout of Precision Scheduled Railroading, operating leverage that is likely to be hampered by slowing volumes in North America, "chronic" underperformance in its U.K. franchise, a lack of M&A catalysts and a premium valuation that she feels is now unwarranted. She recommends investors consider taking profits given that she no longer has confidence in the company's earnings and cash flow trajectory.