Trinity Industries price target raised to $36 from $33 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Trinity Industries (TRN) to $36 from $33 and keeps a Neutral rating on the shares after its Q1 results. The company’s consolidated operating profit was in line with consensus and gross margins came in at 26.2%, above Goldman’s 22% forecast, offsetting lower-than-forecast consolidated revenue, the analyst tells investors in a research note. The firm remains neutral on the stock, balancing the outlook for still solid improving leasing fundamentals against the still uncertain volume and margin trajectory within manufacturing.