Wabtec price target raised by $12 at BofA, here’s why

BofA analyst Ken Hoexter raised the firm’s price target on Wabtec to $128 from $116 and keeps a Neutral rating on the shares after the company announced a partnership with Intermodal Telematics B.V. that marks Wabtec’s entrance into the telematics market. The firm sees structural cost savings from its Integration 2.0 plan and benefits from the launch of its telematics partnership and accordingly increased Q4, 2024, and 2025 EPS estimates 5%, 4%, and 2%, respectively.