Fly News Breaks for August 7, 2019
Aug 7, 2019 | 21:22 EDT
Goldman Sachs analyst Jerry Revich upgraded Wabtec to Buy from Neutral and raised his price target for the shares to $89 from $84. Slowing freight traffic and cost overruns on transit projects are now well understood with the stock down 34% over the past 12 months, Revich tells investors in a research note. Meanwhile, locomotive capital stock has been "significantly reduced" cycle to date, and Wabtec's high recurring revenue base is attractive on a relative basis amid deteriorating end market demand for other industrial end markets, says the analyst. Further, he believes the GE Transportation integration is off to a strong start.
News For WAB From the Last 2 Days
There are no results for your query WAB