Gabelli Downgrades BorgWarner (BWA) to Hold on Valuation

September 20, 2012 9:09 AM EDT Send to a Friend
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Price: $61.46 -0.15%

Rating Summary:
    11 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Gabelli downgraded BorgWarner (NYSE: BWA) from Buy to Hold on valuation.

The firm comments, "We remain attracted to BWA on a long-term basis, as we view the company as the auto supplier best positioned to significantly outperform global light vehicle production growth over the next several years... Should shares in the near term decline again into the mid $60’s, or sufficient time pass where we obtain greater clarity on 2013-14 growth, we would reconsider our recommendation."

For an analyst ratings summary and ratings history on BorgWarner click here. For more ratings news on BorgWarner click here.

Shares of BorgWarner closed at $76.08 yesterday.

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