UPDATE: Stifel Upgrades shares of WABCO Holdings

Loading...
Loading...
In a note released earlier Friday morning, Stifel upgraded shares of WABCO Holdings Inc.
WBC
from Hold to Buy and set a $110 price target. The analysts at Stifel wrote, "The company remains very well capitalized and we consider WABCO to be one of the highest quality companies in the broader transportation and equipment space." Team noted WABCO has underperformed since it reported its first quarter results. This poor performance was due primarily to its exposure to the European market. According to Stifel, as much as 60 percent of WABCO's revenue comes from Europe. However, the team believes the issues driving the poor performance were heavily weighted in the first half of 2014 and highlighted the fact that management reaffirmed its full-year guidance. Looking ahead, Stifel is estimating an EPS of $5.50, $6.65, and $7.90, respectively, for 2014-16.
Posted In: Analyst ColorNewsUpgradesPrice TargetAnalyst RatingsStifel
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...