AZJ’s shares rallied by the most in 2-months yesterday on very high volume after being raised to overweight at Jarden Securities with a $3.90 target – it’s almost there already! This solid-yielding stock will declare its next dividend in 2 months, with estimates for the stock to yield 4.6% over the next 12 months. We may consider this rail freight company once its growth strategy starts to deliver.
- We like AZJ as a yield play into weakness but the risk/reward isn’t appealing back around $3.75.
MM is neutral to slightly bullish AZJ around $3.70
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