Rothschild & Co Redburn upgraded Wabtec (WAB) to Buy from Neutral with a price target of $285, up from $262. The firm cites the stock’s recent selloff and its view that consensus estimates are underappreciating the power of Wabtec’s recent acquisitions for the upgrade. Rothschild’s organic revenue growth concerns have abated due to Wabtec’s recent contract wins, which support its backlog growth, the analyst tells investors in a research note.
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