BofA raises Wabtec PT on strong freight demand
BofA Global Research raises PT on locomotive parts maker Wabtec WAB.N to $231 from $217, a premium of 12% from the stock's last close
Reiterates 'buy' rating
Says co has strong 2025 revenue and earnings goals, supported by a growing order backlog and solid freight demand
Says WAB is cutting costs, streamlining its portfolio and being proactive to mitigate tariff impact
But BofA expects margin pressure to persist in the second half of 2025 due to a shift from high-margin services to lower-margin equipment sales
A sharp drop in 2025 railcar build forecasts may slightly weigh on component revenues, brokerage says
Seven of 13 brokerages rate the stock "buy" or higher, six "hold" ; their median PT is $220- data compiled by LSEG
As of last close, stock up 8.8% YTD
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