Greenbrier (NYSE:GBX) Great Play in Railcar Upswing says Jefferies (NYSE:JEF)

With the railcar segment apparently in a rebound cycle, Jefferies (NYSE:JEF) sees Greenbrier Companies (NYSE:GBX) as one of the best ways to play the move.

So far in the first quarter of 2011 Greenbrier has delivered right around 1,000 cars, while also having other orders and a solid backlog.

At this pace there will be no problem for GBX to meet their projection of delivering 9 to 11 thousand cars for full year 2011.

Jefferies boosted their full year 2011 and full year 2012 EPS estimates $0.60 and $1.50 to $0.70 and $1.55 based on higher delivery estimates.

Jefferies maintains their "Buy" rating on Greenbrier Companies, which closed Monday at $20.45, down $0.69, or 3.26 percent. Jefferies increased their price target on them from $23 to $24.