Stifel Analyst Reiterates Buy on Westinghouse Air Brake Technologies Corp (WAB)
Stifel analyst Michael Baudendistel reiterates a Buy rating on Westinghouse Air Brake Technologies Corp (NYSE:WAB) with a price target of $85.00, following the company’s 2Q earnings report. The company reported an adjusted EPS of $1.05, below the Street’s consensus of $1.08.
Baudendistel explains, “We believe now is an attractive entry point into the shares of WAB. We have been cautious on the name recently, despite maintaining our Buy rating (which is driven by our favorable long-term outlook), as we believed it was likely that the company would reduce its 2016 guidance in conjunction with its 2Q16 earnings release.”
The analyst believes that the weakness in shares represents an attractive buying opportunity for the stock.
Michael Baudendistel is ranked #1,429 of 4,079 analysts on TipRanks. He maintains a success rate of 50% and sees an average return of 3.1%.