Railcar market recovery remains intact: Cowen

Cowen and Company’s 3Q18 rail equipment survey indicates that the railcar market recovery remains intact, even though the survey’s results were “somewhat mixed,” according to analyst Matt Elkott. The percentage of shippers planning to order railcars “inched up very slightly, while order sizes decreased a bit. We expect strong 3Q18 orders, driven partly by crude tank car and intermodal equipment demand.”