Goldman Sachs Upgrades WABCO Holdings (WBC) to Buy

June 10, 2013 7:07 AM EDT Send to a Friend
Get Alerts WBC Hot Sheet
Price: $104.91 -0.27%

Rating Summary:
    10 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Goldman Sachs upgraded WABCO Holdings (NYSE: WBC) from Neutral to Buy with a price target of $89.00 (from $83.00), suggesting 18% upside. The firm said the stock is a product cycle story with favorable cyclical risk-reward.

In the upgrade report, analyst Jerry Revich cited "(1) accelerating new product sales ($230 mn in 2013-15E), (2) margin expansion from product cost re-engineering benefits in a low inflation environment, and (3) attractive cyclical risk-reward, particularly in Europe where capital stock is low, compares are favorable, and freight volumes have improved modestly."

The firm raised 2014-15 EPS estimates by 3% driven by modestly higher European truck volume forecast. FY 2015 EPS goes from $5.87 to $6.03 and FY 2016 from $6.84 to $7.05.

For an analyst ratings summary and ratings history on WABCO Holdings click here. For more ratings news on WABCO Holdings click here.

Shares of WABCO Holdings closed at $75.64 yesterday.


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