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Fly News Breaks for October 16, 2019
WAB
Oct 16, 2019 | 06:17 EDT
BofA/Merrill analyst Ken Hoexter initiated coverage of Wabtec with an Underperform rating and $64 price target. The analyst expects declining rail volumes, expansion of Precision Scheduled Railroading implementation, the decline in rail capex from thee deployment of Positive Train Control, and the run off of the UK transit contract will offset the benefits of the GE Transportation merger.