Berenberg Starts BorgWarner (BWA) at Sell
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Berenberg initiates coverage on BorgWarner (NYSE: BWA) with a Sell rating and a price target of $28.00.
Analyst Fei Teng commented, "BorgWarner’s dependence on emissions reduction technologies to drive growth skews risks to the downside. In the medium term, automakers are likely to gain increasing comfort with emissions targets in Europe due to a history of over-estimating the technology cost curve. BorgWarner’s 100% exposure to powertrain means it is the single supplier most heavily at risk from deferred content launches if this risk materialises. We see organic growth slowing below the guided range of 4-6% for 2016-18 and margins coming under increasing pressure from volume and pricing risks."
Shares of BorgWarner closed at $36.16 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BTIG Starts Mitek Systems (MITK) at Buy
- Oppenheimer Raises Price Target on CarMax (KMX) to $72 Ahead of 3Q
- UBS Raises Price Target on Dick's Sporting Goods (DKS) to $69
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!