Deutsche Bank Upgrades BorgWarner (BWA) to Buy

Deutsche Bank upgraded BorgWarner (NYSE: BWA) from Hold to Buy with a price target of $69.00 (from $63.00).

Analyst Rod Lache said, "BorgWarner’s shares have declined in conjunction with the broader Auto/Auto Parts Universe over the past month due to concerns over the company’s significant European/EUR exposure (48% of BWA’s sales), and signs that growth in other markets (i.e. North America, China) are likely to moderate. While we do not believe that BWA is immune to Auto Industry cyclicality, we believe that its products are nonetheless positioned to deliver accelerating organic growth and margin outperformance over the next 5-years, even in a decelerating Global Auto Production scenario. And the company’s valuation (11.8x 2016) has become too compelling to ignore."

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 $54.52 yesterday.

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