UPDATE: Susquehanna Financial Group Initiates Coverage on BorgWarner with Positive Rating, $67 PT on Attractive Entry Point

In a report published Tuesday, Susquehanna Financial Group analyst Matthew Stover initiated coverage on

with a Positive rating and $67.00 price target. In the report, Susquehanna Financial Group noted, “In our view, BWA is one of the best ways to play tightening emissions/fuel efficiency standards on a global basis. The company fosters a culture of innovation and carries itself with a blue collar ethos. BWA helps define vehicle efficiency strategies, but from a shareholders perspective it is the standout with respect to cashflow conversion and capital efficiency in the auto supplier sector. The recent pull back in the shares, in our view, provides investors with an attractive entry point to consider investment in the shares.” BorgWarner closed on Monday at $54.59.