Deutsche Bank Ups Auto Suppliers

In a note released Friday, Deutsche Bank analyst Rod Lache boosted his price targets on auto suppliers across the board, saying that "Given the macro risks, we continue to believe that investors should focus on suppliers that offer secular (above market) growth opportunities, as these companies are now on sale."

His top pick remains Delphi Automotive DLPH, trading at 9.4x its 2016 estimate. He also feels BorgWarner BWA has become attractive on a valuation basis for a company that should remain one of the largest beneficiaries of increasingly fuel efficiency standards.

Key Changes: Company Target and Price Ratings

American Axle & Manufacturing AXL - $21.00 to $25.00 - Buy

Autoliv ALV - $90.00 to $95.00 - Hold

BorgWarner - $63.00 to $69.00 - Hold to Buy

Dana Corporation DAN - $25.00 to $26.00 - Hold

Delphi - $90.00 to $92.00 - Buy

Lear Corporation LEA - $103.00 to $104.00 - Hold

Magna International MGA - $102.00 to $112.00 - Hold

Tenneco TEN - $67.00 to $69.00 - Hold