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Fly News Breaks for January 4, 2018
WAB
Jan 4, 2018 | 07:03 EDT
Seaport Global analyst Williard Milby initiated Wabtec with a Buy and $90 price target. Milby believes continued trends in increased usage of mass transit globally and the global desire to become more environmentally friendly favor Wabtec. The analyst expects the North American Freight segment will benefit from increased volumes and demand for aftermarket products, even as OEM business related to freight car builds appear to remain sluggish through 2018.
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Susquehanna raised the firm's price target on Wabtec to $190 from $160 and keeps a Positive rating on the shares. The firm said its earlier than expected guidance raise and front-half-loaded outlook suggest a shareholder-friendly blend of long-term confidence and prudent 2H conservatism. With no cyclical clouds in sight, Susquehanna remains new-money buyers.
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