Jefferies is maintaining its $81 price target and its Hold rating on BorgWarner Inc. BWA following a strong quarter.
Says Jefferies, in the report, “1Q was a solid quarter for BWA. We increased our estimates based on revenue and Engine segment margins, but also note that purchase accounting for the Haldex acquisition will preclude a snap-back in Drivetrain margins. At 8.8x forward EBITDA, we believe the stock is fairly valued. However, we'll gladly step up when the 12-month opportunity looks compelling enough. In the interim, we reiterate our Hold rating based on valuation.”
BWA closed yesterday at $76.57.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorAnalyst RatingsAuto Parts & EquipmentBorgWarner Inc.Consumer DiscretionaryJefferies & Co.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in