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UPDATE: Morgan Stanley Reiterates on WABCO Ahead of Earnings Call

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UPDATE: Stifel Upgrades WABCO Holdings Inc.
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In a report published Friday, Morgan Stanley analyst Nicole DeBlase reiterated an Equal-Weight rating on WABCO (NYSE: WBC), but removed the $100.00 price target.

In the report, Morgan Stanley noted, “WBC reported 1Q14 Adj. EPS of $1.28 (ex-separation/ streamlining costs), above MSe/cons of $1.25. Upside was driven entirely by a stronger than expected revenue performance, as core incremental margins were actually weaker than expected (likely due to FX headwinds). Adj. FCF conversion was weaker Y/Y at 35% (vs. 65% in 1Q13). Management reiterated previously issued 2014e Adj. EPS guidance of $5.30-5.80.”

WABCO closed on Thursday at $108.52.

Latest Ratings for WBC

DateFirmActionFromTo
Oct 2014JP MorganMaintainsNeutral
Oct 2014Stifel NicolausMaintainsBuy
Sep 2014Stifel NicolausUpgradesHoldBuy

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Posted-In: Morgan Stanley Nicole DeblaseAnalyst Color Price Target Analyst Ratings

 

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