Gabelli Upgrades BorgWarner (BWA) to Buy; Shares Undervalued...on Sale Now
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Price: $63.49 -0.24%
Rating Summary:
17 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
Rating Summary:
17 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
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Gabelli upgraded BorgWarner (NYSE: BWA) from Hold to Buy.
Gabelli analyst, said, "BWA shares traded higher following a guidance reduction that fell well below our expectations. We are changing our recommendation on BWA shares to Buy as we believe negativity and broader macro concerns to be fully priced in. BWA shares now trade at more than a 20% discount to our new 2013 PMV of $81 (7x 2013E EBITDA, recently reduced by a half turn). BWA’s regulatory-driven growth story remains the most definable within the auto industry (along with Tenneco (NYSE: TEN)). Internal efficiency measures continue to outperform expectations, as evidenced by the 140bps expansion in Engine segment margin amid flat sales. We believe shares to be undervalued and recommend investors purchase BWA."
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 $62.99 yesterday.
Gabelli analyst, said, "BWA shares traded higher following a guidance reduction that fell well below our expectations. We are changing our recommendation on BWA shares to Buy as we believe negativity and broader macro concerns to be fully priced in. BWA shares now trade at more than a 20% discount to our new 2013 PMV of $81 (7x 2013E EBITDA, recently reduced by a half turn). BWA’s regulatory-driven growth story remains the most definable within the auto industry (along with Tenneco (NYSE: TEN)). Internal efficiency measures continue to outperform expectations, as evidenced by the 140bps expansion in Engine segment margin amid flat sales. We believe shares to be undervalued and recommend investors purchase BWA."
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 $62.99 yesterday.
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