Deutsche Bank Reiterates Hold Rating on BorgWarner Following Annual Investor Dinner

In a report published on Friday, Deutsche Bank analyst Rod Lache reiterated a Hold rating and a price target of $79 on BorgWarner BWA.

In the report, Deutsche Bank stated, "The key message from the meeting was that this company's management is exceedingly confident it can sustain a very steep growth trajectory, culminating in a doubling of the company's revenue by 2020 (from this year's $7.5 bn). This implies a top line CAGR of approximately 10%. BWA also conveyed that acquisitions will likely play an important role in the company's growth."

BorgWarner closed on Thursday at $83.12.