Jefferies Starts BorgWarner (BWA) at Buy
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Jefferies initiates coverage on BorgWarner (NYSE: BWA) with a Buy rating and a price target of $43.00.
Analyst David Kelley commented, "We believe BWA remains a propulsion leader driven by rising penetration of internal combustion, the likely dominant global powertrain through 2025. We believe new technology acquisition & category mix shift position BWA for hybrid/electric vehicle penetration. While turbocharger growth likely decelerates (31% of sales), we forecast above production volume while current valuation (15-25% discount from historic levels) provides a favorable risk/reward entry."
Shares of BorgWarner closed at $34.46 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJefferies & Co, Definitive Agreement
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