Janney Downgrades Wabtec (WAB) to Neutral
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Janney downgrades Wabtec (NYSE: WAB) from Buy to Neutral, citing valuation as the stock is up 16% today following results.
The firm said, "While economic stimulus packages around the globe should benefit Wabtec longer-term, we do not see funds flowing in the near term to justify the rampant rise in the share price today (up over 15% intra-day)."
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