Wabtec price target raised to $263 from $253 at BofA

BofA raised the firm’s price target on Wabtec (WAB) to $263 from $253 and keeps a Buy rating on the shares. Norfolk Southern (NSC) purchased 40 new ES44AC Tier 4 locomotives from Wabtec, its first since 2022, while Canadian Pacific Kansas City (CP) said it anticipates delivery of 70 Texas-built Tier 4 locomotives from Wabtec in 2026, after having 100 delivered in 2025, the analyst tells investors in a research note. The firm said that rails are continuing to refresh their fleets, and Wabtec is generating recurring sales and is an earnings compounder.