Cowen: Railcars “robust,” locos “rebounding”
Inquiries and orders for new railcars remain robust, with strength in tank cars, intermodal equipment, box cars and steel gondolas, and the locomotive new-build market appears set for a gradual rebound, report Cowen and Co. Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, and Cowen Vice President Matt Elkott from the firm’s annual Transportation Conference. “This reinforces our confidence in our 3Q18 forecast of 20,500 units in industry orders,” they said. CBR (crude by rail) could enjoy relative strength through 2022. We continue to favor Wabtec, Trinity, Greenbrier, and ARI.”