UPDATE: JP Morgan Raises PT on Borg Warner to $92

A report from J.P. Morgan reiterates its Overweight rating and raises the price target from $80 to $92 on Borg Warner (NYSE: BWA).

The report states, “we are attracted to the company's ability to generate multiple years of double-digit top- and bottom-line growth, driven by regulatory changes and rising energy costs. Most of BWA's products (turbochargers, transmission components) help vehicles become more fuel efficient. Borg Warner also seems confident in its ability to still enjoy some operating leverage, suggesting it is one of the few suppliers still capable of expanding margins”.

BWA closed yesterday at $64.39.