Titagarh Wagons and FreightCar America agree to dissolve Indian JV Titagarh Wagons and FreightCar America, FCA, announced that they have agreed to wind up and dissolve their Indian joint venture company. The joint venture company, Titagarh FreightCar Private Limited, was incorporated in India pursuant to a 2008 Joint Venture Agreement between the parties with the objective of manufacturing and selling aluminum coal-carrying rail wagons in India.
FreightCar America price target raised to $42 from $37 at Sterne Agee After FreightCar reported higher than expected Q4 revenue but lower than expected EPS, Sterne Agee believes that the company is benefiting from rising non-coal rail car order flow. The firm thinks the company's lower Q4 margins is a temporary phenomenon. It keeps a Buy rating.