Stephens resumed coverage of Wabtec with an Overweight rating and a $320 price target on July 8, citing an improving transport cycle and potential momentum into 2027. The firm sees more fundamental upside than downside and believes rising earnings could support historically elevated valuation multiples. Wabtec benefits from an installed base of nearly 24,600 locomotives, which drives aftermarket revenue through replacement parts, technology upgrades, maintenance, overhauls, and modernization work. Customers often rely on original equipment suppliers for safety- and performance-related parts, giving Wabtec a revenue stream tied to both new deliveries and existing global fleets.
Westinghouse Air Brake Technologies CorpStephens resumed coverage with Overweight rating and $320 price target, citing improving transport cycle and rising earnings.