Wabtec Leads Target Hikes as Homebuilder Gets Cut

Analysts raised targets on several names Wednesday. Rail equipment maker WAB saw the biggest lift. Consensus target prices climbed to $311.83 from $302.83 — a $9 jump. Wabtec carries a $44.7 billion market cap and very low short interest of just 1.9% of free float, signalling little bearish pushback.

Insurers were also in favour. CB — Chubb — saw its average target rise to $363.17 from $360.87. MRSH Marsh & McLennan edged up to $202.62 from $201.90.

Homebuilders took the opposite direction. PHM PulteGroup had targets trimmed to $139.54 from $139.77. Short interest sits at 4.9% of free float — modest but worth watching if housing data softens further.

Telecom also faced pressure. T AT&T saw its average target cut to $28.81 from $29.03. TFC Truist Financial and CSX each saw minor target reductions too.

Tower REIT CCI Crown Castle received a new recommendation. The stock carries a $33.3 billion market cap and SI of 3.0% of free float. Analysts are split evenly between holds and sells, making the fresh coverage noteworthy.

PM Philip Morris saw its consensus target rise to $197.27. That rounds out a session where rate-sensitive and industrial names mostly drew positive revisions.