Wabtec gains after raising full-year profit, revenue forecasts
WAB•Shares rise after outlook boost and beat on quarterly results
** Shares of U.S. rail equipment supplier Wabtec (WAB.N) rise 4.5% to $275.4 premarket
** Stock set to open at its highest in over three weeks, if gains hold
** WAB raises FY adjusted EPS forecast to $10.6-$10.9 from $10.25-$10.65 prior view
** Sees annual revenue of $12.3 billion to $12.6 billion, compared with previous forecast of $12.19 billion to $12.49 billion
** Posts Q2 adjusted EPS of $2.76 and revenue of $3.18 billion, both beating analysts' consensus estimates, per data compiled by LSEG
** Total backlog stands at $30.9 billion as of June 30, up nearly 42% year over year
** Nine out of 13 brokerages rate the stock "buy" or higher and four rate it "hold"; median PT is $304
** As of last close, stock has risen 23.5% year to date compared to a 9.7% increase in the S&P 500 (.SPX)
