Wabtec (WAB) PT Raised to $75 at Stifel; Expectations Achievable and Fundamentals Improving

Stifel raised its price target on Wabtec (NYSE: WAB) to $75.00 (from $68.00) while maintaining a Buy rating.

Analyst Michael J. Baudendistel commented, "... we think there are reasons to believe expectations have now been reset to achievable levels -- unlike the prior two years, which were punctuated by several successive guidance decreases -- and that fundamentals are beginning to improve. Still, at the current price we are not yet buyers, as we believe investors can find compelling growth opportunities elsewhere at more reasonable valuation."

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