Morgan Stanley Opens Research Tactical Idea on BorgWarner

Morgan Stanley has opened a research tactical idea on BorgWarner BWA believing that the stock value will rise over the next 15 days. In the report, Morgan Stanley writes, "This is because the stock has traded off recently, making short term valuation much more compelling. We believe the sell-off today in reaction to the backlog number is overdone. BWA's $2.5 bn 2012-14 backlog came in at the high-end of our expectations. The 9% y/y growth is consistent with past years when adjusted for the big bounce in 2010 coming off a low base in 2009. We expect consensus numbers will come up for 2012 and 2013. Management is presenting at a conference at 3.05 PM today." Morgan Stanley maintains its Overweight rating on BorgWarner, which is currently trading down $3.56 from yesterday's $74.58 closing price.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: Analyst ColorEarningsNewsShort IdeasReiterationAnalyst RatingsTrading IdeasMorgan Stanleyresearch tactical idea
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!