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Author: royblan Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 23  
Subject: Re: stock buyback Date: 3/18/2000 12:05 PM
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Any interest out there? P/E is about 11. What's the future look like for this stock?

I saw the buy-back announcement, and would have run it in this week's Review (see "Railroads" message board) if there had been room.

You're aware too that WAB just inked a 5-year supply agreement with the Freight Australia subsidiary of RailAmerica (Nasdaq: RAIL) for locomotive repair. Recall too that RAIL recently linked up with Harmon (Nasdaq: HRMN) to do highway crossing maintenance in the US.

This is part of a trend in the rail supply industry to use fewer suppliers and exclusive contracts over longer periods of time. That's good for the winners, bad for the losers.

As we remarked in Week in Review for 3/11/2000, "The ever-shrinking number of class 1 railroad customers has forced the RR supply industry to consolidate, move into non-traditional lines of business, and expand overseas. And if the railroads can't stanch the decline of revenues dollars and the brain drain, the supplier loss and shrinking capex programs will continue."

With that background, it might be worthwhile to look at WAB's forward earnings prospects and perhaps run the numbers through the Rule Maker Ranker to get a sense of trends.

Any takers?

Roy
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