UPDATE: Goldman Sachs Initiates Coverage on Westinghouse Air Brake Technologies with Buy on Leading Market Position

In a report published Monday, Goldman Sachs analyst Samuel H. Eisner initiated coverage on

with a Buy rating and $63.00 price target. In the report, Goldman Sachs noted, “We initiate coverage of WAB with a Buy rating and a $63, 12-month price target. WAB's leading market position in the US coupled with an emerging presence internationally should allow the company to realize high levels of organic growth. When combined with a significant M&A strategy (targeting 50% of LT growth plans), we believe the company is well positioned to achieve its stated goal of doubling revenue in the next five years.” Westinghouse Air Brake Technologies Corp. closed on Friday at $53.43.