Market Overview

UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on BorgWarner

Share:
Related BWA
Following Brexit, Baird Likes These Auto Stocks
Bank Of America Lowers Auto Sales Expectations: Here's Why

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on BorgWarner (NYSE: BWA), but lowered its price target from $66.00 to $62.00.

Deutsche Bank noted, “As has been their custom in recent years, BorgWarner updated their 3-year (2013-2015) net new business backlog, which is a proxy for the company's organic growth. The aggregate 3-year forecast was in-line with our $2.3bn estimate, though likely a bit below consensus (which we believed to be in the $2.4-$2.5 bn range). The downward adjustment to the 3-year forecast was more than explained by a $435 MM revision to the company's European backlog estimate (of which $100MM was explained by lower production expectations, $100MM was explained by a customer production change from Europe to China, $55MM was due to FX assumption, $20MM was due to a divesture and the balance was explained by mix and launch timing).”

BorgWarner closed on Tuesday at $68.10.

Latest Ratings for BWA

DateFirmActionFromTo
Jun 2016Bank of AmericaDowngradesBuyNeutral
Mar 2016CitigroupDowngradesBuyNeutral
Feb 2016Sterne Agee CRTDowngradesBuyNeutral

View More Analyst Ratings for BWA
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (BWA)

View Comments and Join the Discussion!