GATX Corp
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Industrials : Trading Companies & Distributors | Small Cap Blend
Company profile

GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through three business segments: Rail North America, Rail International and Portfolio Management. It approximately owns a fleet of 147,000 railcars. It offers customers leasing, maintenance, asset, financial, and management expertise. It leases tank cars, freight cars, and locomotives in North America, tank cars and freight cars in Europe and freight cars in India and Russia. The Company's rail customers primarily operate in the petroleum, chemical, food/agriculture and transportation industries. Its railcar fleet consists of diverse railcar types that its customers use to ship more than 600 different commodities.

Price
Delayed
$92.16
Day's Change
-0.10 (-0.11%)
Bid
--
Ask
--
B/A Size
--
Day's High
92.16
Day's Low
91.73
Volume
(Light)

Today's volume of 2,189 shares is on pace to be much lighter than GATX's 10-day average volume of 163,752 shares.

2,189

Watch Tesla, Nikola and these other stocks as change comes for a trucking market worth $1.5 trillion, says UBS

12:15 am ET March 19, 2021 (MarketWatch)
Print

By Jack Denton

UBS likes infrastructure, battery, and fueling companies, which it believes will enjoy the most tailwind in the zero-emission trucking race

Massive disruption is hurtling down the highway toward a $1.5 trillion global trucking market, as legacy manufacturers and new entrants alike grapple for pole position in a race for dominance in zero-emissions trucks.

Electric vehicles have sped into the attention of investors in the last year, as stocks like Tesla (TSLA), Nikola (NKLA), NIO (NIO), XPeng (XPEV), Li Auto (LI), and BYD roared higher. And that is for good reason: electric vehicles will have penetrated 100% of the global car market by 2040, according to UBS (UBS). By just 2025, the Swiss bank expects two players -- Tesla and Volkswagen -- to have already emerged as the world's top EV sellers, delivering around 1.2 million cars each as soon as next year.

But vehicle emissions concern more than just cars. There are bigger things that move.

Amid changing regulations and technological innovation, both battery-electric and hydrogen-fuel-cell alternatives to internal combustion engines are emerging to disrupt the global trucking market, estimated by UBS to be worth $1.5 trillion.

Essential reading: Buy these 3 battery stocks to play the electric-vehicle party, but stay away from this company, says UBS (https://www.marketwatch.com/story/buy-these-3-battery-stocks-to-play-the-electric-vehicle-party-but-stay-away-from-this-company-says-ubs-11614965149)

The Swiss bank expects zero-emissions vehicles, or ZEVs, to eventually displace trucks powered by internal combustion engines, with the pace of change accelerating rapidly compared with three years ago as new entrants join the fray.

In a report published on Wednesday with the contribution of 21 analysts, UBS said it expects most of the trucking market to be shared among battery-electric vehicles and fuel-cell electric vehicles, which are powered by hydrogen. Renewable natural gas could also play a smaller role in the market, the analysts said.

The main driving force is global emissions regulations, but the economics of both battery and fuel-cell ZEVs are also highly-competitive. UBS projects that heavy-duty trucks powered by batteries or fuel cells will be more cost effective than diesel by 2030, including the cost of infrastructure. However, input supply remains a challenge, with global shortages in battery cells expected by 2025, according to UBS, and the green hydrogen industry still young.

UBS predicts that 30% of heavy-duty truck sales in North America, Europe, and China will come from ZEVs by 2030, with ZEV trucks making up 40% to 60% of medium-duty sales across these regions.

Read this:Forget Nio and XPeng. This company and Tesla will be the top two electric-vehicle plays by 2025, says UBS (https://www.marketwatch.com/story/forget-nio-and-xpeng-this-company-and-tesla-will-be-the-top-2-electric-vehicle-plays-by-2025-says-ubs-11615306959).

If Tesla's targets are taken at face value, then its heavy-duty, battery-electric Semi truck will be a "superior alternative" to internal combustion engines by 2025, UBS said.

In fact, to the extent that Tesla can hold on to a lead in battery innovation, analysts at the Swiss bank believe the American company "may have a built-in advantage" over legacy heavy-duty truck manufacturers relying on third parties to supply batteries.

Conventional truck and engine manufacturers are expected to fight hard to retain control, including through new offerings and partnerships, but UBS expects them "to lose at least some share" of the market. Incumbent manufacturers face the "biggest headwind" in this changing space, the bank said.

In medium-duty trucks, new entrants like Rivian, Lion, and Chanje are establishing a presence and will be key challengers. These companies are currently privately held, but could go public through an initial public offering or merger with a blank-check, special-purpose acquisition corporation.

Plus:Tesla faces race with Volkswagen as German car giant targets battery costs and new gigafactories (https://www.marketwatch.com/story/tesla-faces-race-with-volkswagen-as-german-giant-targets-battery-costs-and-new-gigafactories-11615829890)

As for heavy-duty trucks and engines, expect Tesla, Nikola, and Hyliion (HYLN) to dominate if they are able to execute on their respective visions, UBS said, though incumbents like Toyota and Hyundai are also expanding globally. The analysts noted that both battery-electric and fuel-cell offerings from new entrants are still in development and could fall short of targets for both weight and range.

In UBS' model, all of the following conventional truck and engine manufacturers are expected to lose market share by 2030: Cummins (CMI), Daimler , Volvo -- which owns Mack Trucks -- and Traton , which is majority-owned by Volkswagen and is expected to complete its acquisition of Navistar (NAV) in mid-2021.

In this battle among truck makers, UBS expects infrastructure, battery, and fueling companies to rise above the fray and enjoy the most tailwind. These groups of stocks make up their favorite picks. The Swiss bank is watching power infrastructure company Quanta Services (PWR) and chemicals and battery groups like Albemarle (ALB), LG Chem , and Contemporary Amperex Technology Co. Limited (CATL) .

More of UBS' most- and least-preferred stock picks from the report are outlined in the chart below:

-Jack Denton; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

March 19, 2021 00:15 ET (04:15 GMT)

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