Stephens analyst Justin Long raised the firm’s price target on Wabtec to $135 from $120 and keeps an Overweight rating on the shares. The company continues to show resiliency with a Q2 beat and raise despite the backdrop of a freight downcycle, the analyst tells investors. The midpoint of 2023 guidance for both revenue and adjusted EPS were raised, which the firm believes supports its positive stance on the secular demand drivers for the company’s products.
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