TD Cowen analyst Itay Michaeli lowered the price target on Aptiv PLC. (NYSE: APTV) to $93.00 (from $108.00) while maintaining a Buy rating.

The analyst commented: "Adjusting Our Aptiv Model Post Versigent Spin; Post the completion of the Verisgent spin, we update our Aptiv model and PT to reflect the spin and other recent industry datapoints. Our Aptiv price target adjusts to $93 from $108 based on 10x 2026E EV/EBITDA (unchanged from prior SoP) and 15x P/E (up from 10x blended previously). Aptiv remains our top supplier pick as we continue to see a compelling risk/reward at current valuations."