In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on BorgWarner BWA, and raised the price target from $60.00 to $63.00.
In the report, Deutsche Bank noted, “BWA reported Q2 EPS, ex-restructuring, of $0.89 vs. our $0.83 & cons of $0.87. We'd note that excluding a $0.02 EPS benefit from foreign currency results were in-line with consensus. Nevertheless, operating results were very strong in the quarter. While organic revenue growth of 8.4% was in-line with our estimate, operating margin of 13.5% was well ahead our 12.7% est, as was incremental margin of 31% vs. our 19.5% estimate, driven by continued strong cost performance and operational execution. We continue to be impressed by BorgWarner's operational performance but maintain our hold rating based on valuation.”
BorgWarner closed on Thursday at $62.25.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in