Wabtec (WAB) PT Raised to $115 at Stifel Following GE Deal
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Wabtec (WAB) PT Raised to $110 at Seaport Global Securities; 'GE Transportation and Wabtec make it official'
May 22, 2018 1:24 AM EDTSeaport Global Securities raised its price target on Wabtec (NYSE: WAB) to $110.00 (from $98.00) while maintaining a Buy rating.
... MoreUPDATE: Wabtec (WAB) PT Raised to $115 at Stephens; 'Announces Transformational Merger With GE Transportation'
May 22, 2018 1:20 AM EDT(Updated - May 22, 2018 7:17 AM EDT)
Stephens raised its price target on Wabtec (NYSE: WAB) to $115.00 (from $98.00) while maintaining a Overweight rating following the company's announced transformational merger agreement with GE Transportation. The agreement will essentially double the size of the company... More
Wall St. rises on trade war truce; industrials lead
May 21, 2018 7:44 AM EDTBy Caroline Valetkevitch
NEW YORK (Reuters) - U.S. stocks rose on Monday and gains in industrials helped propel the Dow to a more than two-month closing high, after a truce between the United States and China calmed fears that a trade war might be imminent.
U.S. Treasury Secretary Steven Mnuchin's comments over the weekend that the two countries had put the prospect of a trade war "on hold" and agreed to hold more talks to boost U.S. exports to China boosted stocks at the opening, with the Dow Jones Industrial Average leading the charge higher.... More
GE to merge transportation unit with Wabtec in $11.1 billion deal
May 21, 2018 7:26 AM EDTBy Harry Brumpton and Rachit Vats
(Reuters) - General Electric Co (NYSE: GE) announced a $11.1 billion deal on Monday to merge its transportation business with U.S. rail equipment manufacturer Wabtec Corp (NYSE: WAB), with GE and its shareholders owning just over half of the combined business.
The deal, first reported by Reuters on Sunday, is the biggest to be inked thus far by GE Chief Executive John Flannery since he announced a major overhaul of the U.S. industrial conglomerate late last year.
The transaction... More
