Wabco Increases Guidance, Soars To 52-Week High (WBC)

Shares of Wabco Holdings Inc. WBC ended the Tuesday trading session up 9.3% at $58.77 per share. The company's stock soared after it announced an increase of of its forecast of adjusted 4th quarter net income to a range of 88 cents to 93 cents per share, up from its previous forecast of 62 cents to 72 cents per share. Chairman and chief executive officer Jacques Esculier said, "Our business is developing even more favorably than we expected two months ago as severe winter conditions in Europe boost aftermarket sales and additional customer demand in Europe and China further grows our fourth quarter revenues. As we prepare to enter 2011, our expanding backlog means keeping factories running during year-end holidays, which in turn will further increase volume productivity. We also see more favorable impacts from year-end activities in Q4 2010 than previously expected." The day's range for shares of Wabco Holdings Inc was between $55.48 and a 52-week high of $59.90 per share. The average price target of analysts who cover Wabco Holdings Inc. (WBC) is $56.14 per share. Volume of 2.7 million shares was more than 5 times the daily average volume of 513,000 shares. Wabco Holdings Inc is a leading supplier of safety and control systems for commercial vehicles. Read more from Benzinga's Company news.