Westinghouse's All-Time High Backlog Signals 2027 Growth Acceleration, Morgan Stanley Says

MT Newswires Live02-17 23:42

Westinghouse Air Brake Technologies' (WAB) backlog is approaching record highs, fueling growing confidence in an acceleration of earnings growth through 2027, Morgan Stanley said in a Tuesday note.

The brokerage said backlog jumped 23% year over year to a record high on roughly $2.4 billion in new locomotive and modernization orders, including wins with CSX (CSX), Union Pacific (UNP), NS and the MTA.

Morgan Stanley estimates the new orders could add $700 million to $750 million in 2027 revenue and up to $1 in earnings per share, with recent margin softness viewed as temporary and driven by mix, tariff pass-through and conservative guidance.

Valuing the company on projected 2026 EPS, the firm sees roughly 23% upside, citing strong services growth and resilient industrial demand.

Morgan Stanley maintained its overweight rating and raised its price target to $315 from $264.

Price: 257.76, Change: +2.01, Percent Change: +0.79

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