Wabtec price target raised to $180 from $165 at Stephens

Stephens analyst Justin Long raised the firm’s price target on Wabtec to $180 from $165 and keeps an Overweight rating on the shares following a “sizable beat and raise” in Q1, driven by upside to both revenue and operating margin. The raised guidance implies a second consecutive year of greater than 20% adjusted EPS growth for the company in the midst of a freight market downturn, which the firm believes is supportive of its positive stance on the stock, the analyst tells investors.