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Fly News Breaks for September 16, 2019
GE, WAB
Sep 16, 2019 | 07:06 EDT
As previously reported, KeyBanc analyst Steve Barger upgraded Wabtec (WAB) to Overweight from Sector Weight with a $90 price target. The analyst cited expectations that Wabtec can generate stable-to-growing revenue from its global footprint and sizable backlog, margin expansion from integrating the GE (GE) locomotive business, and better performance in Transit. In coming quarters, Barger thinks the combination of one-time acquisition-related costs rolling off, synergy realization, and eventual stabilization/recovery in Wabtec's cyclical businesses will result in improving EPS and cash flow.
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.