Wabtec price target raised to $220 from $190 at Susquehanna

Susquehanna analyst Bascome Majors raised the firm’s price target on Wabtec (WAB) to $220 from $190 and keeps a Positive rating on the shares as part of a Q3 earnings preview for the rail equipment group. Railcar fundamentals “remain healthy,” says the firm, which moved its target valuations to 2026 earnings estimates. Susquehanna’s fundamental views toward the railcar cycle remain largely unchanged. Lessors are well positioned to drive revenue and returns higher by renewing pre-2022 leases through 2025 and 2026, secondary railcar markets remain healthy but aren’t sequentially strengthening as new railcar prices slightly decline, while 2024’s weaker railcar orders suggest the first half of 2025 “could be a mixed bag,” the analyst tells investors in a research note.