Sell - Price 39.62 on Dec. 23
by Kevin Dann & Partners
Westinghouse Air Brake Technology (Wabtec) provides engineered components and aftermarket services for global rail and industrial customers...its two business segments are freight and transit. Our 32 target, representing 19.2% downside, [is reached by] applying an 11 times P/E multiple and a 5.5 times EV/Ebitda multiple to our FY2009 estimates....Wabtec has benefited from surging energy prices, which drove record freight volumes and increased transit ridership, [but] potential deceleration in key markets could weigh on sales growth and further margin expansion....The Association of American Railroads says November's car-load and intermodal-volume declines were the largest monthly drops since it began tracking the data in 1997. This drove cumulative ton-miles into negative territory for the year, an important metric for Wabtec's aftermarket revenues. Market cap: $1.9 billion.

07-DEC'08: WABTEC Corp -Rail products. Mass transit is coming back in vogue both here and abroad. Price/share @ start = $44.75

Outperform - Price 52.77 on Sept. 15
by Morgan Keegan

Wabtec announced the intended acquisition of Standard Car Truck for about $300 million. Standard Car Truck is a leading manufacturer of engineered components for locomotives and freight cars; annual sales are about $225 million...acquisition completion [expected] in 4Q....We expect the acquisition to be approximately 16-cents-per-share accretive to earnings in its first year...we've raised our '09 earnings estimate to $3.02 from $2.95 a share. Market cap: $2.6 billion.

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Growth rate higher than PE - commodity play

Transportaion with good growth, and global Business

Per CNBC, Buffet is investing in railroads. If things pan out, railroads will need to invest in themselves - WAB provides components, brakes, etc. for the industry.

research

solid performer in it sector

+54.76%