Hat tip to StreetInsider.com for this report:

Trinity Industries (TRN) is getting an upgrade from Hold to Buy and Kaydon (KDN) gets a price target upgrade from $36 to $44 by Key Banc after the firm attended the American Wind Energy Association show in Chicago.

KeyBanc analyst says, “After recently attending the American Wind Energy Association’s show in Chicago, we are much more enthusiastic about the wind story for 2010, and we are upgrading our rating on Trinity Industries to BUY and increasing our price target for Kaydon. Based on our conversations, we believe many wind industry participants have been energized by recent legislative provisions, stimulus-driven funding for renewable projects, and more aggressive governmental statements of support for renewable energy programs. We found that many industry participants are of the opinion that funding could start flowing to projects in 2H09, and that the industry could see a solid resurgence in 2010. In our view, should KDN or TRN report increased quoting and booking activity it will serve as a formidable catalyst for the shares.

“While we are becoming more bullish on these names (along with, generally speaking, most of our list), we remind investors that the companies likely face several more quarters of challenging end markets and weaker performance. However, we believe a foundation is in place to support improving demand trends, which, in conjunction with dramatically resized cost structures, should translate into significant improvements in incremental operating contribution margins and higher earnings.”

Both companies are trading down about 2% today.  Wow, hard to believe TRN was trading down around $6 at the end of February.