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Fly News Breaks for April 23, 2018
GE, WAB
Apr 23, 2018 | 07:35 EDT
As previously reported, Stifel analyst Michael Baudendistel upgraded Wabtec (WAB) to Buy from Hold after Bloomberg reported that the company was in discussions to acquire GE Transportation from General Electric (GE). While he said he does "not profess to know which strategic alternative for GE Transportation will come to fruition," he believes there is strategic rationale for a deal with Wabtec and that possibility improves his view on the stock's risk/reward balance, Baudendistel tells investors. Wabtec would be buying GE's business at a cyclical low point, and he believes they understand that better than most other potential acquirers, added the analyst, who raised his price target on Wabtec shares to $99 from $75, noting that this revised target includes a premium for the possible acquisition.
News For WAB;GE From the Last 2 Days
GE
Mar 27, 2024 | 05:45 EDT
Wells Fargo analyst Matthew Akers raised the firm's price target on General Electric to $200 from $177 and keeps an Overweight rating on the shares. The analyst sees opportunity for GE to cut 300-500 basis points of expenses in the coming years, 2-3 times what the company committed to at its recent investor day. The firm increased estimates to incorporate higher margins. The new price target reflects a 30-times price-to-earnings multiple on aerospace and $34 per share for Vernova.