JPMorgan analyst Tami Zakaria lowered the firm’s price target on Wabtec (WAB) to $200 from $216 and keeps a Neutral rating on the shares. The firm attributes the selloff post the Q2 report to concerns over an organic growth slowdown. It believes the potential merger between Union Pacific (UNP) and Norfolk Southern (NSC) could be a 50 basis point headwind to Wabtec’s annual organic revenue growth with the merger between BNSF and CSX (CSX) an additional 50 point headwind on fleet reductions.
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