Citi lifts Wabtec PT on sustained demand

Citi raises locomotive parts maker Wabtec's WAB.N price target to $292 from $283

New PT represents a 14% upside to stock's last close

Brokerage says co noted no notable change in expected bookings and revenue conversion from its direct customers despite the Iran conflict, unless the conflict drives a recession

However, brokerage adds that WAB noted minor Middle East exposure and an ability to use alternate supply chain routes along with de minimis impact from higher fuel price to its manufacturing process

As of last close, shares up about 20% YTD