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WAB

Wabtec

$76.57

-0.19 (-0.25%)

07:33
04/25/19
04/25
07:33
04/25/19
07:33

Wabtec reports Q1 adj. EPS $1.06, consensus 85c

Reports Q1 revenue $1.59B, consensus $1.48B. The increase compared to the year-ago quarter resulted mainly from sales from GE Transportation.

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WAB Wabtec
$76.57

-0.19 (-0.25%)

01/28/19
GDHS
01/28/19
NO CHANGE
Target $7
GDHS
Underperform
GE could shift to GAAP accounting, causing stock drop, says Gordon Haskett
New General Electric (GE) CEO Larry Culp likely has every intention of establishing a 2019 guidance framework that the company can actually achieve, which would be welcomed by investors after years of "non-credible GE guidance, perpetual exaggerations, opaque disclosure and aggressive accounting," Gordon Haskett analyst John Inch told investors earlier in a research note titled "Move to GAAP could drive stock hit." The analyst has an Underperform rating on General Electric with a $7 price target. The stock in morning trading is down 33c to $8.83. He believes Larry Culp, in contrast with previous CEO John Flannery, is going to want to set a guidance bar that GE "can at least hit." In turn, while GE may not be able to adopt more conservative accounting while under government investigation, a move to GAAP would at least demonstrate Culp's directional willingness to abandon the "inflated and exaggerated earnings presentation practices of the past," says Inch. However, if GE were to move to GAAP accounting, its share price would move lower, driven by a lower GAAP impact on consensus, the analyst contends. Further, GE's accounting could still be viewed as aggressive under a GAAP presentation framework, adds Inch. As such, he thinks subsequent future restatements from the adoption of more conservative accounting "could readily ensue." Inch also sees risks in GE's revised deal with Wabtec deal (WAB).
02/22/19
JEFF
02/22/19
INITIATION
Target $80
JEFF
Hold
Wabtec initiated with a Hold at Jefferies
Jefferies analyst Saree Boroditsky started Wabtec (WAB) with a Hold rating and $80 price target. The analyst views Wabtec as a "solid" long-term industrial, but is cautious on entering the stock given the potential negative impact on equipment demand from Precision Scheduled Railroading adoption and the "technical overhang" created by the GE (GE) Transportation merger closing next week.
02/22/19
02/22/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nvidia (NVDA) initiated with an Overweight at Atlantic Equities. 2. United Technologies (UTX) resumed with an Overweight at JPMorgan. 3. Wabtec (WAB) initiated with a Hold at Jefferies. 4. STMicroelectronics (STM) initiated with an Outperform at Cowen. 5. Biogen (BIIB) initiated with a Market Perform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/26/19
UBSW
02/26/19
NO CHANGE
Target $13
UBSW
Buy
UBS boosts General Electric target to $13, sees fading leverage concerns
UBS analyst Peter Lennox-King raised his price target for General Electric (GE) to $13 from $12 and keeps a Buy rating on the shares. The stock closed yesterday up 6%, or 65c, to $10.82. With net proceeds of $20.5B from the BioPharma unit sale to Danaher (DHR), $2.9B in cash from Wabtec (WAB), $3.8B in new Wabtec shares, and $13B in Baker Hughes (BHGE) shares, GE has assets "well beyond" the $30B of Industrial debt reduction targeted last month, Lennox-King tells investors in a research note. This comes while the company retains ownership of ~$3B in Healthcare EBITDA, adds the analyst, who now could even envision a scenario of year-end 2020 leverage of below two times. As leverage concerns fade, Lennox-King expects investor focus to shift to GE's "fundamental turnaround."

TODAY'S FREE FLY STORIES

SHOP

Shopify

$311.63

-15.05 (-4.61%)

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CBMG

Cellular Biomedicine

$15.01

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INTC

Intel

$47.63

0.17 (0.36%)

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Intel plans to cut desktop processor prices by up to 15%, DigiTimes reports »

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LMT

Lockheed Martin

$359.98

0.555 (0.15%)

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NSANY

Nissan

$0.00

(0.00%)

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Nissan overhauls board following disorderly investor meeting, WSJ reports »

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PVTL

Pivotal Software

$11.35

-0.15 (-1.30%)

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GOOG

Alphabet

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-6.63 (-0.59%)

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Alphabet Class A

$1,117.00

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$1,117.00

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LEN

Lennar

$51.41

0.09 (0.18%)

06:07
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Earnings
Lennar reports Q2 EPS $1.30, consensus $1.14 »

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BAS

Basic Energy

$2.43

-0.21 (-7.95%)

06:07
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06:07
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  • 13

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FTSI

FTS International

$5.77

-0.5 (-7.97%)

06:06
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Downgrade
FTS International rating change  »

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IMRN

Immuron

$3.00

-0.09 (-2.91%)

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Hot Stocks
Immuron Directors increase shareholdings in the company »

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USWS

U.S. Well Services

$5.18

-0.38 (-6.83%)

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AMCR

Amcor

$11.14

0.12 (1.09%)

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Amcor enters into $394M agreement for sale of three flexible packaging plants »

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EQT

EQT Corporation

$15.38

0.15 (0.98%)

06:03
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Rice Team urges EQT Corporation shareholders to vote for Rice Team nominees »

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  • 10

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PLL

Piedmont Lithium

$11.50

(0.00%)

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Piedmont Lithium announces 47% increase in Piedmont mineral resource estimate »

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GEN

Genesis Healthcare

$1.23

0.01 (0.82%)

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HUD-backed nursing homes have 'serious deficiencies,' NY Times reports »

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  • 13

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VKTX

Viking Therapeutics

$7.94

-0.07 (-0.87%)

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Viking Therapeutics initiated  »

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CTRP

Ctrip

$36.43

0.37 (1.03%)

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MDGL

Madrigal Pharmaceuticals

$101.39

-3.73 (-3.55%)

, VKTX

Viking Therapeutics

$7.94

-0.07 (-0.87%)

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MDGL

Madrigal Pharmaceuticals

$101.39

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VKTX

Viking Therapeutics

$7.94

-0.07 (-0.87%)

GNFT

Genfit

$20.19

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RGEN

Repligen

$81.92

-1.09 (-1.31%)

05:55
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Conference/Events
Repligen management to meet with Stephens »

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NRCG

NRC Group

$11.04

2.23 (25.31%)

, ECOL

US Ecology

$57.37

-5.38 (-8.57%)

05:54
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Downgrade
NRC Group, US Ecology rating change  »

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NRCG

NRC Group

$11.04

2.23 (25.31%)

ECOL

US Ecology

$57.37

-5.38 (-8.57%)

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XHR

Xenia Hotels

$20.41

-0.55 (-2.62%)

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ARCE

Arco Platform

$43.38

-2.35 (-5.14%)

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Initiation
Arco Platform initiated  »

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AGN

Allergan

$129.65

-1.32 (-1.01%)

, EOLS

Evolus

$13.69

0.13 (0.96%)

05:40
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05:40
Recommendations
Allergan, Evolus analyst commentary at Mizuho »

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AGN

Allergan

$129.65

-1.32 (-1.01%)

EOLS

Evolus

$13.69

0.13 (0.96%)

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  • 25

    Jun

QSR

Restaurant Brands

05:39
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Initiation
Restaurant Brands initiated  »

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