Anyone have any more info on the UBS downgrade as to the specific reason? I was thinking of getting back into TRN as I keep reading reports of increased rail traffic. However after downgrade I am a little leery. Any comments?
The analysts are idiots. I don't pay any attention to them at all. Zero. That said, there are any number of reasons for the PPS to stop and take a breath or a correction. The sequester could harm the revenues of several of TRN's divisions as well as drag the whole market down. I recently "pocketed" my gains by selling 37 calls at the same time I bought some cheap 41's that expire this week. That was before I knew the damn company won't be releasing results until NEXT week. I mean, they couldn't get the books done until the third week of Feb?
TRN is not overbought IMO. Just look at P/E's. It's not a terrific bargain right here either, though.