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Fly News Breaks for January 2, 2020
Jan 2, 2020 | 08:58 EDT
Stephens analyst Justin Long raised his price target for Wabtec shares to $95 from $86 as he sees a "compelling" set-up for 2020 given negative investor sentiment, recent underperformance of the stock and several potential positive catalysts. The analyst, who keeps an Overweight rating on Wabtec, also noted that he expects management to start calculating adjusted EPS in a way that is more reflective of the cash EPS of the business, which he sees equating to an annual earnings tailwind of 75-95 cents per share.
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