Jefferies Boosts Numbers on BorgWarner (BWA) After Q1, Maintains Hold Rating

Jefferies raised estimates and its price target on BorgWarner (NYSE: BWA) from $83 to $85, but maintained its Hold rating following in-line Q1 and reiterating 2012 guidance.

The firm comments, "The stock has held up much better than the rest of the auto group (+25% YTD), and the (very) modest revenue miss was probably a good excuse to take some profits. Entry points for BWA can be elusive; we hope to find a better spot in the future."

Jefferies raised Q2 EPS from $1.36 to $1.40, FY12 from $5.53 to $5.56 and FY13 from $6.35 to $6.67.

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 $79.99 yesterday.

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