Wabtec price target raised to $150 from $135 at Wells Fargo

Wells Fargo analyst Allison Poliniak-Cusic raised the firm’s price target on Wabtec to $150 from $135 and keeps an Overweight rating on the shares. The stock moved lower after its earnings miss, but the management’s 2024 guidance was likely conservative, and the firm remains a buyer, the analyst tells investors in a research note. Wells Fargo is maintaining the view that structural growth opportunities across segments persist, providing a baseline of underlying earnings growth over the next 2-3 years, the firm added.