Westinghouse Signs MOU with Hungary's MVM for Energy Collaboration
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 06 2024
0mins
Should l Buy WAB?
Source: Business Insider
Westinghouse Air Brake Technologies Corp's stock has hit a 5-day low amid broader market gains, with the Nasdaq-100 up 0.67% and the S&P 500 up 0.37%.
The company recently signed a memorandum of understanding with Hungary's electricity provider, MVM, alongside GE Vernova and Holtec, to enhance collaboration in the energy sector, focusing on electricity generation and infrastructure development. This partnership could provide future growth opportunities for Westinghouse, despite the current stock price decline.
Investors may view this collaboration as a positive step for Westinghouse, potentially leading to increased market confidence and future revenue growth in the energy sector.
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Analyst Views on WAB
Wall Street analysts forecast WAB stock price to fall
8 Analyst Rating
6 Buy
2 Hold
0 Sell
Strong Buy
Current: 255.500
Low
215.00
Averages
242.33
High
264.00
Current: 255.500
Low
215.00
Averages
242.33
High
264.00
About WAB
Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, is a global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Its Freight Segment builds, rebuilds, upgrades, and overhauls locomotives, services locomotives and freight cars, and provides a range of component and digital solutions for customers in the freight and transit rail, mining, and marine industries. It also manufactures and services components for new and existing freight cars and locomotives, and supplies railway electronics. Transit Segment manufactures and services components for new and existing passenger transit vehicles, typically regional trains, high speed trains, subway cars, light-rail vehicles and buses. The Company is also focused on engineered safety-critical train connection systems and services for passenger rail rolling stock in Sweden.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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