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Downgrade Alert for FreightCar America (RAIL)

By Shiri Gupta

FreightCar America (NASDAQ:RAIL) was downgraded from Buy to Neutral at Longbow today. The stock closed yesterday at $14.11 on volume of 448,000 shares, above average daily volume of 240,000.

FreightCar America Inc. designs and manufactures aluminum and steel bodied railroad freight cars. The Company also refurbishes and sells replacement parts for railcars. FreightCar America's primary customers are leasing companies, utilities and railroads.

In the past 52 weeks, shares of FreightCar America have traded between a low of $12.82 and a high of $37.48 and closed yesterday at $14.11, which is 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.4%.

Potential upside of 70.1% exists for FreightCar America, based on a current level of $14.11 and analysts' average consensus price target of $24.00. The stock should find initial resistance at its 50-day moving average (MA) of $15.77 and further resistance at its 200-day MA of $18.99.

SmarTrend is monitoring the recent change of momentum in FreightCar America. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of FreightCar America in search of a potential trend change.

Keywords: analyst upgrades/downgrades freightcar america

Ticker(s): RAIL