Gabelli Maintains Buy on BorgWarner

Gabelli is out with its report today on BorgWarner BWA, maintaining Buy. In a note to clients, Gabelli writes, "Should the company deliver on its goals to exceed 20% contribution margin for its Drivetrain segment, our FY12 estimate of $5.65 could prove conservative. We continue to recommend BWA shares, with a 2012 PMV of $87 per share." At the time of posting, shares of BWA were trading pre-market at $77.84, down 2.09% from Thursday's close.