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KeyBanc Downgrades Wabtec (WAB) to Hold; Quality Name, But Not Chasing It

April 25, 2012 7:31 AM EDT
Get Alerts WAB Hot Sheet
Price: $145.87 --0%

Rating Summary:
    14 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 8 | New: 10
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KeyBanc downgraded Wabtec (NYSE: WAB) from Buy to Hold.

KeyBanc analyst, said, "We consider WAB one of the highest quality names in our coverage space, but as we think about strong current operating results and record margin performance in the context of our concerns about moderating order rates in the railcar industry, we are less inclined to recommend the shares at these levels. Specifically, should our concerns about moderating order rates prove correct, we think WAB's revenue and EPS growth rates are likely to slow in 2013, meaning consensus expectations (and certainly the high end estimates) could be optimistic and prone to downward revisions at some point."

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

Shares of Wabtec closed at $78.70 yesterday.


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