Wells Fargo Raises Valuation Range on Wabtec (WAB) Due to Potential Growth Opportunities
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Price: $299.02 +0.35%
Rating Summary:
16 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo is maintaining its Outperform rating on shares of Wabtec (NYSE: WAB) and is increasing its valuation range from $78-$80 to $86-$88.
The firm highlights WAB's Q4 results were relatively solid and believes the strong trends will continue through 2012. As a result, Wells Fargo has increased its FY12 EPS estimate from $4.10 to $4.35 on a 11 percent increase in total sales for the year.
An analyst at Wells Fargo comments, "In our view, WAB is poised to benefit from what we believe to be the beginning of what could be a multi-year rail supply market recovery with increased content and expanded share as well as an ongoing focus in the U.S. to improve our transit system. Importantly, roughly half of WAB's revenue is generated from aftermarket sales, which allow the company to remain profitable throughout the cycle. International expansion, solid operating acumen, and disciplined acquisition program could drive EPS growth over the next 5 years."
For FY13, the firm forecasts earnings will total $4.90 per share.
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 $70.83 yesterday.
The firm highlights WAB's Q4 results were relatively solid and believes the strong trends will continue through 2012. As a result, Wells Fargo has increased its FY12 EPS estimate from $4.10 to $4.35 on a 11 percent increase in total sales for the year.
An analyst at Wells Fargo comments, "In our view, WAB is poised to benefit from what we believe to be the beginning of what could be a multi-year rail supply market recovery with increased content and expanded share as well as an ongoing focus in the U.S. to improve our transit system. Importantly, roughly half of WAB's revenue is generated from aftermarket sales, which allow the company to remain profitable throughout the cycle. International expansion, solid operating acumen, and disciplined acquisition program could drive EPS growth over the next 5 years."
For FY13, the firm forecasts earnings will total $4.90 per share.
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 $70.83 yesterday.
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