Goldman Sachs Upgrades ArvinMeritor (ARM), Downgrades BorgWarner (BWA); Raises Automobiles Group
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Goldman Sachs upgrades ArvinMeritor Inc. (NYSE: ARM) from Neutral to Buy with a $5 price target, providing upside of up to 43%.
Goldman downgraded BorgWarner Inc. (NYSE: BWA) from Buy to Neutral with a $33 price target, citing valuation.
Goldman upgraded the Automobiles Group to Attractive, citing last week's 7% slide due to rising gas prices, interest rates and Treasury's decision not to extend additional supplier support. But the firm thinks the rising tide of auto sales will drive shares much higher.
Top stocks the firm likes in the sector include Ford (NYSE: F), Tenneco (NYSE: TEN), ArvinMeritor (NYSE: ARM) and Federal Mogul.
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